71. Sea Company reports the following information regarding its production cost.
Units produced
42,000 units
Direct labor
$35 per unit
Direct materials
$28 per unit
Variable overhead
$17 per unit
Fixed overhead
$105,000 in total
Compute production cost per unit under variable costing.A. $28.00B. $82.50C. $80.00D. $63.00E. $35.00
72. Sea Company reports the following information regarding its production cost:
Units produced
42,000 units
Direct labor
$35 per unit
Direct materials
$28 per unit
Variable overhead
$17 per unit
Fixed overhead
$105,000 in total
Compute production cost per unit under absorption costing.A. $28.00B. $82.50C. $80.00D. $63.00E. $35.00
Reference: 19_01
Advanced Company reports the following information for the current year. All beginning inventory amounts equaled $0 this year.
Units produced this year
25,000 units
Units sold this year
15,000 units
Direct materials
$9 per unit
Direct labor
$11 per unit
Variable overhead
$75,000 in total
Fixed overhead
$137,500 in total
73. Given Advanced Company’s data, compute cost per unit of finished goods under variable costing.A. $20.00B. $25.00C. $21.88D. $23.00E. $28.50
74. Given Advanced Company’s data, compute cost per unit of finished goods under absorption costing.A. $20.00B. $34.17C. $25.32D. $23.00E. $28.50
75. Given Advanced Company’s data, compute cost of finished goods in inventory under absorption costing.A. $285,000B. $712,500C. $427,500D. $230,000E. $345,000
76. Given Advanced Company’s data, compute cost of finished goods in inventory under variable costing.A. $285,000B. $712,500C. $427,500D. $230,000E. $345,000
77. Given Advanced Company’s data, and the knowledge that the product is sold for $50 per unit and operating expenses are $200,000, compute the net income under absorption costing.
A. $55,000
B. $67,500
C. $80,500D. $122,500
E. $205,000
78. Given Advanced Company’s data, and the knowledge that the product is sold for $50 per unit and operating expenses are $200,000, compute the net income under variable costing.
A. $55,000
B. $67,500
C. $80,500D. $122,500
E. $205,000
79. Clear Company reports the following information for its first year of operations:
Units produced this year
50,000 units
Units sold this year
49,000 units
Direct materials
$7 per unit
Direct labor
$3 per unit
Variable overhead
$210,000 in total
Fixed overhead
? in total
If the company’s cost per unit of finished goods using absorption costing is $19.30, what is total fixed overhead?A. $350,000B. $255,000C. $150,000D. $249,900E. $147,000
80. Cloudy Company reports the following information for the current year:
Units produced this year
51,000 units
Units sold this year
53,000 units
Direct materials
$6 per unit
Direct labor
$3 per unit
Variable overhead
$255,000 in total
Fixed overhead
? in total
If the company’s cost per unit of finished goods using absorption costing is $18, what is total fixed overhead?
A. $204,000B. $212,000C. $213,690D. $222,070E. $459,000
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