18 flexlux inc reports the following information units produced 500 units units sold 4307790

18 flexlux inc reports the following information units produced 500 units units sold 4307790

18) Flexlux Inc. reports the following information:

Units produced

500

units

Units sold

500

units

Sale price

$110

per unit

Direct materials

$20

per unit

Direct labor

$15

per unit

Variable manufacturing overhead

$10

per unit

Fixed manufacturing overhead

$15,000

per year

Variable selling and administrative costs

$5

per unit

Fixed selling and administrative costs

$10,000

per year

What is the unit product cost using variable costing?

A) $50

B) $55

C) $45

D) $65

19) Medbam Inc. has collected the following data for November (there are no beginning inventories):

Units produced

500

units

Units sold

500

units

Sale price

$110

per unit

Direct materials

$20

per unit

Direct labor

$15

per unit

Variable manufacturing overhead

$10

per unit

Fixed manufacturing overhead

$15,000

per year

Variable selling and administrative costs

$5

per unit

Fixed selling and administrative costs

$10,000

per year

What is the operating income using absorption costing?

A) $6,000

B) $3,500

C) $5,000

D) $4,500

20) SailFind Inc. has collected the following data for November (there are no beginning inventories):

Units produced

500

units

Sale price

$110

per unit

Direct materials

$20

per unit

Direct labor

$15

per unit

Variable manufacturing overhead

$10

per unit

Fixed manufacturing overhead

$15,000

per year

Variable selling and administrative costs

$5

per unit

Fixed selling and administrative costs

$10,000

per year

What is the operating income using variable costing if 450 units are sold?

A) $2,000

B) $3,500

C) $3,000

D) $2,500

21) Fasetech Inc. has collected the following data for November (there are no beginning inventories):

Units produced

500

units

Sale price

$110

per unit

Direct materials

$20

per unit

Direct labor

$15

per unit

Variable manufacturing overhead

$10

per unit

Fixed manufacturing overhead

$15,000

per year

Variable selling and administrative costs

$5

per unit

Fixed selling and administrative costs

$10,000

per year

What is the operating income using absorption costing if 450 units are sold?

A) $2,570

B) $3,500

C) $3,650

D) $3,250

22) Fasetech Inc. has collected the following data for November (there are no beginning inventories):

Units produced

500

units

Sale price

$110

per unit

Direct materials

$20

per unit

Direct labor

$15

per unit

Variable manufacturing overhead

$10

per unit

Fixed manufacturing overhead

$15,000

per year

Variable selling and administrative costs

$5

per unit

Fixed selling and administrative costs

$10,000

per year

What is the ending balance in finished goods inventory using variable costing if 450 units are sold?

A) $2,000

B) $2,250

C) $3,750

D) $2,850

23) Fasetech Inc. has collected the following data for November (there are no beginning inventories):

Units produced

500

units

Sale price

$110

per unit

Direct materials

$20

per unit

Direct labor

$15

per unit

Variable manufacturing overhead

$10

per unit

Fixed manufacturing overhead

$15,000

per year

Variable selling and administrative costs

$5

per unit

Fixed selling and administrative costs

$10,000

per year

What is the ending balance in finished goods inventory using absorption costing if 450 units are sold?

A) $2,850

B) $2,250

C) $3,550

D) $3,750

24) Groovelex Inc. has collected the following data for the current year:

Beginning inventory

50

units

Units produced

550

units

Units sold

600

units

Sale price

$120

per unit

Direct materials

$25

per unit

Direct labor

$12

per unit

Variable manufacturing overhead

$13

per unit

Fixed manufacturing overhead

$16,500

per year

Variable selling and administrative costs

$6

per unit

Fixed selling and administrative costs

$12,500

per year

What is the unit product cost for the current year using absorption costing?

A) $70

B) $65

C) $80

D) $55

25) Groovelex Inc. reports the following information:

Beginning inventory

50

units

Units produced

550

units

Units sold

600

units

Sale price

$120

per unit

Direct materials

$25

per unit

Direct labor

$12

per unit

Variable manufacturing overhead

$13

per unit

Fixed manufacturing overhead

$16,500

per year

Variable selling and administrative costs

$6

per unit

Fixed selling and administrative costs

$12,500

per year

What is the unit product cost using variable costing?

A) $45

B) $50

C) $65

D) $55

26) Groovelex Inc. has collected the following data for the current year:

Beginning inventory

50

units

Units produced

450

units

Units sold

500

units

Sale price

$120

per unit

Direct materials

$25

per unit

Direct labor

$12

per unit

Variable manufacturing overhead

$13

per unit

Fixed manufacturing overhead

$15,750

per year

Variable selling and administrative costs

$6

per unit

Fixed selling and administrative costs

$12,500

per year

The beginning inventory costs $3,750 under absorption costing and $2,500 under variable costing.

What is the operating income using absorption costing?

A) $3,950

B) $2,500

C) $4,750

D) $3,750

27) Groovelex Inc. reports the following information:

Beginning inventory

50

units

Units produced

450

units

Units sold

500

units

Sale price

$120

per unit

Direct materials

$25

per unit

Direct labor

$12

per unit

Variable manufacturing overhead

$13

per unit

Fixed manufacturing overhead

$15,750

per year

Variable selling and administrative costs

$6

per unit

Fixed selling and administrative costs

$12,500

per year

The beginning inventory costs $3,750 under absorption costing and $2,500 under variable costing.

What is the operating income using variable costing?

A) $4,200

B) $2,000

C) $3,750

D) $3,000

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