Question : 86.Leesburg Bags produces backpacks. The costs and prices for the : 1302751

 

 

86.Leesburg Bags produces backpacks. The costs and prices for the backpacks follow (Assume the same unit costs in all years):

 

Selling price$23.00 per backpack

Variable costs:

Production$11.00 per backpack

Selling$2.00 per backpack

Fixed costs:

Production$900,000 per year

Selling and administrative$540,000 per year

 

Leesburg Bags produced 250,000 backpacks for the year and sold 200,000. There was no beginning inventory, and costs throughout the year were stable. What would be the difference in income between variable costing income and full costing income if the company had produced 215,000 backpacks instead of 250,000?

A.$62,791

B.$54,000

C.$46,400

D.$77,400

 

87.WebFlicks is an online DVD company that produces its own DVD copies of first-run movies that it sells for $8.00 each. The following information is available (Assume the same unit costs in all years):

 

Variable costs:

Product royalty fees$3.30 per DVD

DVD production$1.20 per DVD

Selling and admin costs$0.80 per DVD

Fixed costs:

Production$128,000 per month

Selling and administration$130,000 per month

 

During June, 160,000 DVDs were produced and 144,000 were sold. There were 17,000 DVDs in beginning inventory. How much is net income per month under variable costing?

A.$143,600

B.$130,800

C.$130,640

D. None of these answer choices are correct.

 

88.WebFlicks is an online DVD company that produces its own DVD copies of first-run movies that it sells for $8.00 each. The following information is available (Assume the same unit costs in all years):

 

Variable costs:

Product royalty fees$3.30 per DVD

DVD production$1.20 per DVD

Selling and admin costs$0.80 per DVD

Fixed Costs:

Production$128,000 per month

Selling and administration$130,000 per month

 

During June, 160,000 DVDs were produced and 144,000 were sold. There were 17,000 DVDs in beginning inventory. How much is net income per month under full costing?

A.$143,600

B.$130,640

C.$130,800

D. None of these answer choices are correct.

 

89.WebFlicks is an online DVD company that produces its own DVD copies of first-run movies that it sells for $8.00 each. The following information is available (Assume the same unit costs in all years):

 

Variable costs:

Product royalty fees$3.30 per DVD

DVD production$1.20 per DVD

Selling and admin costs$0.80 per DVD

Fixed Costs:

Production$128,000 per month

Selling and administration$130,000 per month

 

During June, 160,000 DVDs were produced and 144,000 were sold. There were 17,000 DVDs in beginning inventory. How much is inventory at the end of the month under variable costing?

A.$72,000

B.$148,500

C.$174,900

D.$84,800

 

90.WebFlicks is an online DVD company that produces its own DVD copies of first-run movies that it sells for $8.00 each. The following information is available (Assume the same unit costs in all years):

 

Variable costs:

Product royalty fees$3.30 per DVD

DVD production$1.20 per DVD

Selling and admin costs$0.80 per DVD

Fixed Costs:

Production$128,000 per month

Selling and administration$130,000 per month

 

During June, 160,000 DVDs were produced and 144,000 were sold. There were 17,000 DVDs in beginning inventory. How much is inventory at the end of the month under full costing?

A.$72,000

B.$148,500

C.$174,900

D.$84,800

 

91.Aerotrino produces and sells popular t-shirts. Following is information about its t-shirts for 2014:

 

Selling price$15.00 per t-shirt

Variable costs:

Production (manufacturing costs)$3.00 per t-shirt

Selling & administration$1.00 per t-shirt

Fixed costs:

Production (manufacturing costs)$1,000,000 per year

Selling & administration$2,000,000 per year

 

During 2014, the company produced 400,000 t-shirts and sold 350,000 of them. Assume that there was no beginning inventory. How much is the net income under variable costing?

A.$975,000

B.$1,400,000

C.$850,000

D.$2,250,000

 

92.Aerotrino produces and sells popular t-shirts. Following is information about its t-shirts for 2014:

 

Selling price$15.00 per t-shirt

Variable costs:

Production (manufacturing costs)$3.00 per t-shirt

Selling & administration$1.00 per t-shirt

Fixed costs:

Production (manufacturing costs)$1,000,000 per year

Selling & administration$2,000,000 per year

 

During 2014, the company produced 400,000 t-shirts and sold 350,000 of them. Assume that there was no beginning inventory. How much is the net income under full costing?

A.$975,000

B.$1,400,000

C.$850,000

D.$2,250,000

93.Aerotrino produces and sells popular t-shirts. Following is information about its t-shirts for 2014:

 

Selling price$15.00 per t-shirt

Variable costs:

Production (manufacturing costs)$3.00 per t-shirt

Selling & administration$1.00 per t-shirt

Fixed costs:

Production (manufacturing costs)$1,000,000 per year

Selling & administration$2,000,000 per year

 

During 2014, the company produced 400,000 t-shirts and sold 350,000 of them. Assume that there was no beginning inventory. How much is the inventory under variable costing at December 31, 2014?

A.$150,000

B.$275,000

C.$200,000

D.$325,000

 

94.Aerotrino produces and sells popular t-shirts. Following is information about its t-shirts for 2014:

 

Selling price$15.00 per t-shirt

Variable costs:

Production (manufacturing costs)$3.00 per t-shirt

Selling & administration$1.00 per t-shirt

Fixed costs:

Production (manufacturing costs)$1,000,000 per year

Selling & administration$2,000,000 per year

 

During 2014, the company produced 400,000 t-shirts and sold 350,000 of them. Assume that there was no beginning inventory. How much is the inventory under full costing at December 31, 2014?

A.$150,000

B.$275,000

C.$200,000

D.$325,000

 

95. Brislin Gifts makes ceramic mugs and has the following amounts for 2014 (Assume the same unit costs in all years):

 

Selling price$9.00 per mug

Variable production cost$2.50 per mug

Variable selling cost$1.10 per mug

Fixed production cost$100,000 per month

Fixed selling and administrative cost$60,000 per month

 

Production and sales in units for the first three months of 2014 are as follows:

YearProductionSales

January              50,000              44,000

February              40,000              45,000

March              44,000              46,000

 

Inventory at January 1, 2014 consisted of 1,000 mugs. How much is net income for January using variable costing?

A.$89,600

B.$77,600

C.$67,480

D. None of these answer choices are correct.

 

 

 

 

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