Refer to the information for Organic, Inc. Requirements 1. Using absorption costing, calculate the unit product cost.
Question:
Refer to the information for Organic, Inc.
Requirements 1. Using absorption costing, calculate the unit product cost.
2. Prepare an income statement using the traditional format.
Organic, Inc. has collected the following data for November (there are no beginning inventories):
Transcribed Image Text:
Units produced and sold Sales price Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Variable selling and administrative costs Fixed selling and administrative costs 300 units $ 275 per unit 53 per unit 76 per unit 28 per unit 4,350 per month 20 per unit 4,675 per month
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 0% (1 review)
To calculate the unit product cost using absorption costing we need to account for all manufacturing ...View the full answer
Answered By
Lamya S
Highly creative, resourceful and dedicated High School Teacher with a good fluency in English (IELTS- 7.5 band scorer) and an excellent record of successful classroom presentations.
I have more than 2 years experience in tutoring students especially by using my note making strategies.
Especially adept at teaching methods of business functions and management through a positive, and flexible teaching style with the willingness to work beyond the call of duty.
Committed to ongoing professional development and spreading the knowledge within myself to the blooming ones to make them fly with a colorful wing of future.
I do always believe that more than being a teacher who teaches students subjects,...i rather want to be a teacher who wants to teach students how to love learning..
Subjects i handle :
Business studies
Management studies
Operations Management
Organisational Behaviour
Change Management
Research Methodology
Strategy Management
Economics
Human Resource Management
Performance Management
Training
International Business
Business Ethics
Business Communication
Things you can expect from me :
- A clear cut answer
- A detailed conceptual way of explanation
- Simplified answer form of complex topics
- Diagrams and examples filled answers
4.90+
46+ Reviews
54+ Question Solved
Related Book For
Horngrens Accounting The Managerial Chapters
ISBN: 9781292105871
11th Global Edition
Authors: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Question Posted:
Students also viewed these Business questions
-
Refer to the information for Organic, Inc. Organic, Inc. has collected the following data for November (there are no beginning inventories): Units produced and sold 300 units Sales...
-
Refer to the information for Raman Limited in E18-9. Following the year ended December 31, 2014, Raman continued to actively trade its securities investments until the end of its 2015 fiscal year,...
-
Refer to the information for Organic, Inc. Organic, Inc. has collected the following data for November (there are no beginning inventories): Units produced and sold ............ 300 units Sales price...
-
What is the result of executing the following method? A. The declaration of name does not compile. B. The declaration of _number does not compile. C. The declaration of profit$$$ does not compile. D....
-
Use the figure below. (a) Explain why ÎABC, ÎADE, and ÎAFG are similar triangles. (b) What does similarity imply about the ratios (c) Does the value of sin A depend on which...
-
Management is considering dropping a product line. The freed-up productive capacity can be used elsewhere. Management ignores the fixed costs and examines only the contribution margin of the product...
-
Briefly explain the main difference between exchange-traded funds (ETFs) and mutual funds?
-
Refer to the data in Exercise 16-2 for Heritage Antiquing Services. Required: Compute the following financial ratios for long-term creditors for this year: 1. Times interest earned ratio. 2....
-
(a) Setup the simulation environment as shown in Fig. 3. Explain the direction of the field on the surface of the sphere. (b) Calculate the location of the image inside the sphere and compared the...
-
Refer to the information for Organic, Inc. Requirements 1. Using variable costing, calculate the unit product cost. 2. Prepare an income statement using the contribution margin format. Organic, Inc....
-
Portemilio Company reported actual sales of $2,000,000, and fixed costs of $510,000. The contribution margin ratio is 30%. Requirements 1. Compute the margin of safety in dollars. 2. Compute the...
-
Determine whether the number is rational or irrational. 3.14159
-
The following is Alsatia Corporation's contribution format income statement for last month: Sales Less variable expenses Contribution margin Less fixed expenses Net income $1,400,000 900,000 500,000...
-
1. Suppose the government is considering an import quota on Japanese cars, use the appropriate diagrams (hint: market for loanable funds and market for foreign currency exchange) to analyze how this...
-
discuss the role of workflow orchestration frameworks in managing cross-functional collaboration, resource allocation, and task sequencing within dynamic and interconnected organizational ecosystems ?
-
How do organizations optimize supply chain efficiency through advanced logistics optimization techniques, including network design modeling, transportation route optimization, and inventory...
-
How do organizations leverage advanced data analytics and predictive modeling techniques, such as machine learning algorithms, predictive maintenance analytics, and demand forecasting models, to...
-
Resolve part (d) of Problem 10 assuming the values of and b are given at the 95 percent level. Repeat, assuming the values are given at the 90 percent level. Problem 10 (d) Critical path probability...
-
What is the order p of a B + -tree? Describe the structure of both internal and leaf nodes of a B + -tree.
-
A 30-year mortgage for $145,000 is issued at a 6% A nominal interest rate. (a) What is the monthly payment? (b) How long does it take to payoff the mortgage, if $1000 per month is paid? (c) How long...
-
Solve Problem 6-32 for the breakeven first cost per kilometer of going under the lake.
-
Redo Problem 6-38 to calculate the EUAW of the alternatives as a function of miles driven per year to see if there is a crossover point in the decision process. Graph your results.
-
The SATISFIABILITY problem is, given a collection of clauses, such as, {(x1 V x2 V x3 V x4), (x2 V x3 V x1), (x1 V x4)} assign values to all x; such that each clause evaluates true. This problem...
-
1) Consider the simple model of a landing gear mechanism given in the figure. The connect at A is a pin. The connection at B is a slider held in place by an actuator providing a horizontal force...
-
Key figures for the recent two years of both Apple and Google follow. Apple Google $ millions Net income Net sales Current Year $ 55,256 260,174 Prior Year $ 59,531 265,595 Current Year $ 34,343...
Study smarter with the SolutionInn App