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- The Molis Company has the capacity to produce 15,000 haks each month. Current regular production and sales are 10,000 haks per month at a selling price of P15 each. Based on this level of activity, the following unit costs are incurred: Direct materials P5.00 Direct labor 3.00 Variable manufacturing overhead 0.75 Fixed manufacturing overhead 1.50 Variable selling expense 0.25 Fixed administrative expense 1.00 The fixed costs, both manufacturing and administrative, are constant in total within the relevant range of 10,000 to 15,000 haks per month. The Molis Company has received a special order from a customer who wants to pay a reduced price of P10 per hak. There would be no selling expense in connection with this special order. And, this order would have no effect on the company's other sales. 1. Suppose the special order is for 4,000 haks this month. If this offer is…The Molis Company has the capacity to produce 15,000 haks each month. Current regular production and sales are 10,000 haks per month at a selling price of P15 each. Based on this level of activity, the following unit costs are incurred: Direct materials P5.00 Direct labor 3.00 Variable manufacturing overhead 0.75 Fixed manufacturing overhead 1.50 Variable selling expense 0.25 Fixed administrative expense 1.00 The fixed costs, both manufacturing and administrative, are constant in total within the relevant range of 10,000 to 15,000 haks per month. The Molis Company has received a special order from a customer who wants to pay a reduced price of P10 per hak. There would be no selling expense in connection with this special order. And, this order would have no effect on the company's other sales. 1. Suppose the special order is for 4,000 haks this month. If this offer is…The company manufactures product X which has a selling price of ₱90 per unit. Costs associated with the manufacture and sale of product X based on 40,000 units manufactured and sold each year are: Direct materials→₱15.00; Direct labor→₱10.00; Variable manufacturing overhead→₱8.00; Fixed manufacturing overhead→₱600,000.00; Variable selling, general and administrative expenses→₱4.00; Fixed selling, general and administrative expenses→₱800,000.00. The company uses the absorption costing approach to cost-plus pricing . The percentage markup being used to determine the selling price for product X is: a. 87.50% b. 172.73% c. 143.24% d. 73.08% e. 25% f. 60%
- Arntson, Inc., manufactures and sells two products: Product R3 and Product N0. The annual production and sales of Product of R3 is 1,100 units and of Product N0 is 400 units. Data concerning the expected production of each product and the expected total direct labor-hours (DLHs) required to produce that output appear below: Expected Production Direct Labor-Hours Per Unit Total Direct Labor-Hours Product R3 1,100 10.0 11,000 Product N0 400 5.0 2,000 Total direct labor-hours 13,000 The direct labor rate is $20.60 per DLH. The direct materials cost per unit is $211.00 for Product R3 and $287.00 for Product N0. The company is considering adopting an activity-based costing system with the following activity cost pools, activity measures, and expected activity: Estimated Expected Activity Activity Cost Pools Activity Measures Overhead Cost Product R3 Product N0 Total Labor-related DLHs $ 40,636 11,000 2,000 13,000 Production orders orders 65,880…BNM INC. presented the following data for 2021: Sales ₱256,000 Variable manufacturing costs 96,000 Fixed manufacturing costs 64,000 Fixed selling and administrative expenses 80,000 Actual production in units 10,000 Finished goods, end. in units 2,000 Finished goods, beg. in units none Question: 1. What is the net income under variable costing method? 2. What is the net income under absorption costing method?6. The following cost relate to XYZ Corp for the year:Sales commission expenses P 185,000Direct materials 215,000Conversion cost 435,000Factory overhead 190,000 (40% of which is fixed)What is the TOTAL MANUFACTURING (PRODUCT) COSTS?
- A company manufactures 1000units of outputs using 5000units of materials @ GHC30 each, and pays factory workers, indirect production expenses, and administrative expense of GHC100000, GHC50000, and GHC30000 respectively. If the company sold two-thirds of the goods produced, the total product cost as well as total expenses for the given period is O A. GHC300000 and GHC200000 respectively O B. GHC200000 and GHC30000 respectively OC. GHC230000 and GHC30000 respectively D. GHC300000 and GHC230000 respectivelyFleurant, Inc., manufactures and sells two products: Product W2 and Product P8. Data concerning the expected production of each product and the expected total direct labor-hours (DLHs) required to produce that output appear below: Expected Production Direct Labor-Hours Per Unit Total Direct Labor-Hours Product W2 400 4 1,600 Product P8 800 2 1,600 Total direct labor-hours 3,200 The direct labor rate is $31.10 per DLH. The direct materials cost per unit is $197.60 for Product W2 and $134.30 for Product P8. The company is considering adopting an activity-based costing system with the following activity cost pools, activity measures, and expected activity: Estimated Expected Activity Activity Cost Pools Activity Measures Overhead Cost Product W2 Product P8 Total Labor-related DLHs $ 212,576 1,600 1,600 3,200 Production orders orders 17,938 420 320 740 Order size MHs 236,686 3,820 3,620 7,440 $ 467,200 If the company…Fleurant, Inc., manufactures and sells two products: Product W2 and Product P8. Data concerning the expected production of each product and the expected total direct labor-hours (DLHs) required to produce that output appear below: Expected Production Direct Labor-Hours Per Unit Total Direct Labor-Hours Product W2 400 5 2,000 Product P8 500 4 2,000 Total direct labor-hours 4,000 The direct labor rate is $37.10 per DLH. The direct materials cost per unit is $203.60 for Product W2 and $140.30 for Product P8. The company is considering adopting an activity-based costing system with the following activity cost pools, activity measures, and expected activity: Estimated Expected Activity Activity Cost Pools Activity Measures Overhead Cost Product W2 Product P8 Total Labor-related DLHs $ 218,576 2,000 2,000 4,000 Production orders orders 18,538 400 380 780 Order size MHs 202,886 3,880 3,680 7,560 $ 440,000 Which of the…
- The standard cost card for a product shows, Material cost 2 kg @ GH¢2.50 each = GH¢5.00 per unit Labour 2 hours @ GH¢10 each = GH¢20 per unit The actual which has emerged from business operations are as follows. Production – 8,000 units, material consumed – 16,500 kg @ GH¢2.40 each = GH¢39,600, Wages paid 18,000 hours @ GH¢8 each = GH¢144, 000 Calculate; a) Labour Cost Variance b) Labour Rate Variance c) Labour Efficiency Variance d) Material Cost Variance e) Material Price Variance f) Material Quantity VarianceA company manufactures 1000units of outputs using 5000units of materials @ GH¢30 each, and pays factory workers, indirect production expenses, and administrative expense of GH¢100000, GH¢50000, and GH¢30000 respectively. If the company sold two-thirds of the goods produced, the total product cost as well as total expenses for the given period is?VXY Corporation has the following standard costs associated with the manufacture and sale of one of its products: Direct material P 3.00 per unit Direct labor. P 2.50 per unit Variable manufacturing overhead. P 2.00 per unit Fixed manufacturing overhead. P 4.00 per unit (based on an estimate of 50,000 units per year) Variable selling expenses. P 0.25 per unit Fixed SG&A expense P 75,000 per year During 2021, its first year of operations, VXY manufactured 51,000 units and sold 48,000. The selling price per unit was P25. All costs were equal to standard. 1. Based on variable costing, the income before income taxes for the year was.
