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Far North Telecom, Ltd., of Ontario, has organized a new division…

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Far North Telecom, Ltd., of...
Far North Telecom, Ltd., of Ontario, has organized a new division to manufacture and sell specialty cellular telephones. The division’s monthly costs are shown in the table below. Far North Telecom regards XXXXX XXXXX its workers as full-time employees and the company has a long-standing no layoff policy. Furthermore, production is highly automated. Accordingly, the company includes its labor costs in its fixed manufacturing overhead. The cellular phones sell for $150 each. During September, the first month of operations, the following activity was recorded: 12,000 units produced, 10,000 units sold. Comment on the five questions below the table. Respond to at least two of your fellow students’ postings. Manufacturing costs: Variable costs per unit: Direct Materials $48 Variable manufacturing overhead $2 Fixed manufacturing overhead costs (total) $360,000 Selling and administration costs: Variable 12% of sales Fixed (total) $470,000 Compute the unit product cost under: absorption costing variable costing Prepare an absorption costing income statement for September Prepare a contribution format income statement for September using variable costing. Assume that the company must obtain additional financing in order to continue operations. As a member of top management, would you prefer to rely n the statement in (b) above or in (3) above when meeting with a group of prospective investors? Reconcile the absorption costing and variable costing net operating incomes in (2) and (3) above.
Submitted: 8 years ago.Category: Homework
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6/24/2010
Tutor: Manal Elkhoshkhany, Tutor replied 8 years ago
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Hello slynnm and welcome to Just Answer

 

Please advise the name of the book you are using: Title, author's name, and edition

 

Thank you

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Customer reply replied 8 years ago
It's not from a book, the question that is. However, our text is Managerial Accounting. 2nd edition. Braun, Tietz, and Harrison.
Tutor: Manal Elkhoshkhany, Tutor replied 8 years ago

That is ok :)

 

I just file my solutions under textbook names. I am working on the problem now. When is your deadline please?



Edited by BusinessTutor on 6/24/2010 at 12:55 PM EST
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Tutor: Manal Elkhoshkhany, Tutor replied 8 years ago

Hello again

 

Please click here for the word document

 

Please click here for the excel solutions

 

 

P.S. If you like my services, please feel free to direct your future posts to me specifically by typing "For BusinessTutor" at the beginning of your post. Should you choose to do this, please try to allow me 48 hours before the deadline.

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Customer reply replied 8 years ago
Midnight tonight PST
Tutor: Manal Elkhoshkhany, Tutor replied 8 years ago
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