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What was Indiana Corporation's net operating income for the year using variable costing?
Murdoch Product Data
What is the margin of safety in dollars?
Harris Company produces a single product. Last year, Harris manufactured 17,000 units and sold 13,000 units. Production costs for the year were as follows:
Production Cost Data
Fixed manufacturing overhead
Sales were $780,000 for the year, variable selling and administrative expenses were $88,400, and fixed selling and administrative expenses were $170,000. There was no beginning inventory. Assume that direct labor is a variable cost.
Under variable costing, the company's net operating income for the year would be _______ than under absorption costing.
An increase invariable expenses
A)YesB) NoC) YesD) No
An increase in fixed expensesYesYesNoNo
Callaham Corporation is a wholesaler that sells a single product. Management has provided the following cost data for two levels of monthly sales volume. The company sells the product for $115.80 per unit.
Sales volume (units)
Cost of sales
Selling and administrative costs
The best estimate of the total variable cost per unit is
The best estimate of the total contribution margin when 4,300 units are sold is
Gargymal Company would like to estimate the variable and fixed components of its electrical costs and has compiled the following data for the past five months of operations.
Using the high-low method of analysis, the estimated variable cost per machine hour for electricity is closest to which of the following?
Lifsey Wedding Fantasy Company makes very elaborate wedding cakes to order. The owner of the company has provided the following data concerning the activity rates in its activity-based costing system:
Data concerning two recent orders are listed here:
Assuming that the company charges $556.96 for the Smith wedding cake, what would be the overall margin on the order?
Contribution margin ratio
Slosh expects to have $18,000 in fixed expenses next year. What would Slosh's total dollar sales have to be next year to generate a profit of $90,000?
The company makes 240 units of product T91H a year, requiring a total of 550 machine hours, 90 orders, and 40 inspection hours per year. The product's direct materials cost is $16.98 per unit, and its direct labor cost is $12.09 per unit. According to the activity-based costing system, the average cost of product T91H is closest to _______ per unit.
Bear is expecting a 20-cent increase in variable expenses. No other changes are expected or planned. How much contribution margin should Bear expect after the increase?
The best estimate of the total monthly fixed cost is
Using the high-low method of analysis, the estimated fixed cost per month for electricity is closest to which of the following?
The contribution margin per unit was
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