90.Sea Company reports the following information regarding its production cost:
Units produced42,000 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
91.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
92.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
93.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
94.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
95.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
96.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
97.Clear Company reports the following information for its first year of operations:
Units produced this year50,000 units
Units sold this year49,000 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
98.Milton Company reports the following information for the current year:
Units produced this year45,000 units
Units sold this year53,000 units
Direct materials$5 per unit
Direct labor$2 per unit
Variable overhead$270,000 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. $225,000
B. $180,000
C. $270,000
D. $315,000
E. $720,000
99.Gage Company reports the following information for its first year of operations:
Units produced this year7,000 units
Units sold this year6,500 units
Direct materials$22 per unit
Direct labor$30 per unit
Variable overhead? in total
Fixed overhead$56,000 in total
If the company's cost per unit of finished goods using variable costing is $63, what is total variable overhead?
A. $21,000
B. $71,500
C. $77,000
D. $19,500
E. $16,590