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. $28.00
B. $82.50
C. $80.00
D. $63.00
E. $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. $28.00
B. $82.50
C. $80.00
D. $63.00
E. $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. $20.00
B. $25.00
C. $21.88
D. $23.00
E. $28.50
74. Given Advanced Company’s data, compute cost per unit of finished goods under absorption costing.
A. $20.00
B. $34.17
C. $25.32
D. $23.00
E. $28.50
75. Given Advanced Company’s data, compute cost of finished goods in inventory under absorption costing.
A. $285,000
B. $712,500
C. $427,500
D. $230,000
E. $345,000
76. Given Advanced Company’s data, compute cost of finished goods in inventory under variable costing.
A. $285,000
B. $712,500
C. $427,500
D. $230,000
E. $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. $80,500
D. $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. $80,500
D. $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. $350,000
B. $255,000
C. $150,000
D. $249,900
E. $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. $204,000
B. $212,000
C. $213,690
D. $222,070
E. $459,000