60.1K

Verified Solution

Link Copied!

HELP PLEASE

Foamtastic Bags make only one product, extra large bean bags. These bean bags are so big that an entire family can suggle on tham while watching a movie in quarantine. The firm has provided the following data concerning its most recent months of operations Selling Price Unit $124unit Variable Costs/Unit: Direct Materials $43/unit Direct Labor $27/unit Variable MOH SSlunit Variable SG&A $9/unit Fixed Costs: Fixed MOH 365,991 Round ALL calculations to the nearest hundredth (two decimal places). 1. Calculate the number of units in onding Inventory of the end of MONTH 2 O A 1073 units OB. 375 units O C. 719 units OD 698 units 2. How many units sold in MONTH 2 come from MONTH 2 production OA. 5,862 units OB. 6,216 units OC. 5.163 units OD. 5,510 unts 3. Calculate the FOH/unit in MONTH 1 O A 511 26/unit B. 59 52 unit OC. $11 96/unl OD 510 62 unit Cick to select your answer WIE Direct Materials $43/un Direct Labor $27/unit Variable MOH 55/unit Variable SG 8A $unit Fixed Costs: Fbed MOH $65,991 Fixed S.G.& A $35,099 The company started out the month with no units in Inventory During the fest month, the firm produced 6,935 units Sales during Month 1 totaled 5,862 units During the second month, the manager was forced to sell off some of the inventory he had accumulated. They sold 6216 units in Month 2, but ony produced 5,518. All production costs remained stable across the periods. The company currently uses a fost infirst-out (FIFO) system to account for inventory Round ALL calculations to the nearest hundredth (two decimal places) 1 Calculate the number of units hending Inventory at the end of MONTH 2 O A 1073 units OB. 375 units OC. 719 units OD. 698 units 2. How many units cold in MONTH 2 come from MONTH 2 production OA 5,862 units O B. 6,216 units OC. 5,143 units OD. 5,518 unite 3. Calculate the FOH/unit in MONTH 1 OA 511 2 ani OC. 511 unit OD 510 62 unit Click to select your answer Direct Materials $43/unit Direct Labor $27/un Variable MOH $Slunit Variable SG 8A 39/unit Fixed Costs: Fored MOH 565,991 Fixed S., & A $35,099 The company started out the month with no unito in inventory Outing the first month the form produced 6.935 units Sales during Month 1 totaled 5,862 units. During the second month the manager was forced to sell off some of the inventory he had accumulated They sold 6,216 units in Month 2, but only produced 5,518. All production costs remained stable across the periods. The company currently uses a first-in-first-out (FIFO) system to account for inventory 4. Calculate the FOH/unit in MONTH 2 OA 311 96/unit OB. $9.52 unit OC. $11.26/unit OD. $10 62 unit 5. Calculate the SALES REVENUE In MONTH 2 Rounding may cause a discrepancy Choose the closest number OA. $684232 OB. 5637732 OC. 3770,784 OD. $726,888 6. Calculate the VARIABLE COGS in MONTH 2 Rounding ay is a discrepancy Choose the closest number OA $31.000 OB. $466,200 OC. $439,650 OD: 5435, 120 Click to select your answer Direct Materials $13/unit Direct Labor $27/unt Variable MOH $Sluni Variable S,G&A $9hnit Fixed Costs: Fixed MOH $65.991 Fixed S,G, &A 535,099 The company started out the month with no units in inventory. During the first month, the film produced 6,935 units. Sabes during Month 1 totaled 5,862 units During the second month, the manager was forced to sell off some of the inventory he had accumulated. They sold 6,216 units in Month 2, but only produced 5,518. All production costs remained stable across the periods. The company currently uses a first in first-cot (FIFO) system to account for inventory 7. Calculate the VARIABLE S.G.&A in MONTH 2 Rounding may cause a discrepancy. Choose the closest number OA $55,944 OB $52.758 O C. $62.415 OD 349,662 8. Calculate the FIXED COGS under ABSORPTION Coning in MONTH 2 Rounding may cause a discrepancy. Choose the closest number O A $65.995.28 OB. $74,343,30 OC. $71,725 24 OD. $59.176 32 Colom FIXED MANUFACTURING contunder VARIABLE coming in MONTH? Rounting may cause a ducrepancy Choose the closest number O A $65.991 OB. $71,725 24 OC. $74,343 36 OD. $59.176 32 Click to select your answer Direct Materials Direct Labor Variable MOH Variable SG &A Fixed Costs: Fred MOH Fixed S,G & A $43/unit $27/unit $5/unit $9/unit $65,991 $35,099 The company started out the month with no units in inventory During the first month, the firm produced 6,935 units. Salos during Month 1 totaled 5,862 units. During the second month, the manager was forced to sell off some of the inventory he had accumulated. They sold 6,216 units in Month 2 but only produced 5,518. All production costs remained stable across the periods. The company currently uses a first in first out (FIFO) system to account for inventory 10. Calculate the FIXED S,G,&A for MONTH 2 Rounding may cause a discrepancy. Choose the closest number O A $65.991 OB $35.099 O C. $29,668.4 OD. $39,638.85 11 Calculate the OPERATING INCOME under ABSORPTION COSTING for MONTH 2. Rounding may cause a discrepancy. Choose the closest number O A $154,364.68 O B. $147,550 OC. $141,815 76 OD. $139,197 54 12 Calculate the OPERATING INCOME under VARIABLE COSTING for MONTH 2 Rounding may cause a discrepancy Choose the closest number OA. $141.815.76 OB. $147,650 OC. $139,197 64 OD 5154,364 66 45 R I FTUARITUS Click to select your answer Dred Materials $43/unit Direct Labor $27A Variable MOH $5 unit Variable SG&A $9/unit Fixed Costs: Fixed MOH 565,991 Fixed S.G&A $35,099 The company started out the month with no units in inventory. During the first month, the tim produced 6.935 units Sales during Month 1 totaled 5,862 units. During the second month, the manager was forced to so off some of the riventory he had accumulated. They sold 6,216 units in Month2, but only produced 6,518 Al production costs remained stable across the periods. The company currently uses a first loft out (FFO) system to account for inventory 13 Calculate the change in units of MONTH 1 Inventory during MONTH 2 O A 375 units OB - 1073 units OC. 698 units OD-690 units 14 Calculate the change in units of MONTH 2 inventory during MONTH 2 OA - 1073 unko B. 375 units O c. 1073 units OD 698 units 15 What is the formula to calculate the change in the value of FOH darino MONTH 27 Hint The change in eperating Income should be equal to this number OA (Units Month Inventory Month FoHunt) OB (Unit Month nontory Month2OH) (A UnitsMonth lnventory Month 1FOHunt) OC. (A Units Monthloventory Month Fount) Click to select your answer Direct Materials Direct Labor Variable MOH Variable SG &A Fixed Costs: Fixed MOH Fixed S.G&A $43/unit $27/unit $5 unit $lurit $65.991 $35,099 The company started out the month with no units in Inventory. During the first month, the firm produced 6,935 units Sales during Month 1 totaled 5,862 units During the second month, the manager was forced to sell off some of the inventory he had accumulated They sold 6,216 units in Month 2, but ony produced 5,518 All production costs remained stable across the periods. The company currently uses a first in first-out (FIFO) system to account for inventory O C. 1073 units OD. 698 units 15 What is the formula to calculate the change in the value of FOH during MONTH 22 Hot The change in operating income should be equal to this number OA (Units. Month Inventory Month 1FOH) B. (Units Month inventory Month2FOH unit) (AUnits Monthlwentory Month 1FOM/unit) OC. (AUnits. Month Inventory Month FOH/unit) OD. (Units Month lnventory Montis FOH/unit) (AUnits Month Inventory Month FH unit) 16 The difference in operating Income under these two methods is caused by OA A difference in the way we expense fixed manufacturing OH OB. Adifference in the way we expense variable manufacturing OH OC. A difference in the way we expense bed S.G. &A OD. A difference in the way we expense variables. Q & A O E. Both A & OF Both B &D Click to select your answer Foamtastic Bags makes only one product, extra large bean bags. These bean bags are so big that an entire family can snuggle on them while watching a movie in quarantine The firm has provided the following data concerning its most recent months of operations. Selling Price/Unit $124/unit Variable Costs/Unit: Direct Materials $43/unit Direct Labor $27/unit Variable MOH $Sant Variable S,G&A S9 unit Fixed Costs: Fixed MOH $65,991 Round ALL calculations to the nearest hundredth (two decimal places) 1 Calculate the number of unitsin ending Inventory of the end of MONTH 2 OA 1073 unit OB. 375 units OC. 719 units OD 693 units 2. How many units sold in MONTH 2 come from MONTH 2 production? O A 5,862 units OB, 6,216 units OC 5.143 units OD 5,518 units 3. Calculate the FOH/unit in MONTH 1 OA 551 26/unit OB 59 52 unit OC 511 OD. 51062 Click to select your answer Direct Materials Direct Labor Variable MOH Variable SG&A Fixed Costs: Fbed MOH Fixed S.G, & A $43/unit $27/unt $5 unit S9/unit $65.991 $35,099 The company started out the month with no units in inventory. During the first month, the firm produced 6,935 units Sales during Month 1 totaled 5,862 units. During the second month the manager was forced to sell off some of the inventory he had accumulated. They sold 6,216 units in Month 2, but only produced 5,518. All production costs remained stable across the periods. The company currently uses a first in test out (FIFO) wlem to account for Inventory Round ALL calculations to the nearest hundredth (two decimal places) 1. Calculate the number of units in ending Inventory at the ond of MONTH 2 O A 1073 units B. 375 units OC 719 units D. 693 units 2. How many units sold in MONTH 2 come from MONTH 2 production? O A 5,862 units B. 6,216 units OG 5.143 units OD. 5,510 units 3. Calculate the FoHuntinMONTH 1 OM 511 26n't B. 59 52/unit OC 511 6 unit OD 510 62 Click to select your answer Direct Materials Direct Labor Variable MOH Variable SG 8A Fixed Costs: Fixed MOH Fixed SG &A 543/unit $27/unt $5 unit $9/unit $65.991 $35,099 The company started out the month with no units in inventory. During the first month, the firm produced 6,935 units Sales during Month 1 totaled 5,862 units During the second month, the manager was forced to sell off some of the inventary he had accumulated. They sold 6,216 units in Month 2. but only produced 5,518. All production costs remained stable across the periods. The company currently uses a first-in-fiest-out (FIFO) system to account for Inventory 4. Calculate the FOH/unit in MONTH 2 OA. $11.96 unit OB. $9.52/ OC. $11 26 init OD. $10 62 unit 6. Calculate the SALES REVENUE In MONTH 2. Rounding may cause a discrepancy Choose the closest number OA $604,232 OB $637,732 OC. 5770,784 OD. 5726.888 6. Calculate the VARIABLE COGS in MONTH 2 Roundho may cause a discrepancy. Choose the closest number O A $31,080 O B. $.466.200 OG 5439,650 OD. 5435.120 Click to select your answer 7. Calculate the VARIABLE S.G,&A in MONTH 2 Rounding may cause a discrepancy Choose the closest number O A $55,944 OB. $52,758 OC. $62,415 OD. $49,662 8. Calculate the FIXED COGS under ABSORPTION Cosling in MONTH 2 Rounding may cause a discrepancy Choose the closest number O A $65,995 26 OB 574,343.36 OC. $71,725 24 OD. $59.176.32 9. Calculate the FIXED MANUFACTURING cost under VARIABLE costing in MONTH 2 Rounding may cause discrepancy. Choose the closest number OA $65.991 OB. $71,725.24 O C. 574,343.36 OD. $59.176 32 Click to select your answer 10. Calculate the FIXED S.G,&A for MONTH 2. Rounding may cause a discrepancy. Choose the closest number O A $65.991 OB. $35,099 OC. 529,668.4 OD. $39,538.85 11. Calculate the OPERATING INCOME under ABSORPTION COSTING for MONTH 2 Rounding may cause a discrepancy Choose the closest number OA. $154,364.68 B. $147,550 OC. $141,015 76 OD $139,197.64 12 Calculate the OPERATING INCOME under VARIABLE COSTING for MONTH 2 Rounding may cause a discrepancy Choose the closest number O A $141,815.76 O B. 3147,650 OC. $139,197 64 OD. $154,36468 ALLA ALTUS Cick to select your answer 13. Calculate the change in units of MONTH 1 Inventory during MONTH 2 OA 375 units OB - 1073 unko OC. 698 units OD - 698 units 14. Calculate the change in units of MONTH 2 inventary during MONTH 2 OA-1073 units OB. 375 units OC. 1073 units OD 690 units 16 What is the formula to calculate the change in the value of For during MONTH 2? Hat The changen operating income should be equal to the sumber OA (AUnit Month Inventory Month 1FOH) B. (Unit Month Inventory Month2OH) (Unit Month inventory Month FoHunit) OC (UniMoothinventory Month FoH) OD (UniMonth Inventory Month Fount) Click to select your answer O C. 1073 units D. 698 units 15 What is the fomula to calculate the change in the value of FOH during MONTH 22 Hint. The change in operating income should be equal to this number O A. (AUnits Monthlnventory Month 1FOHunit) B. (Units Month Inventory Month2OHAN) (A Units Month 2 Inventory Month 1FOHunit) OC. (UnitMonts2 InventoryMootl2Found) OD. (Units Month Inventory Month 1FOH/unit) (A Units Month2inventory Month2roHunt) 16. The difference in operating Income under these two methods is caused by O A Adifference in the way we expense forced manufacturing OH OB. A difference in the way we expense variable manufacturing OH OC. A difference in the way we expense fixed S.G. & A OD. A difference in the way we expense variable S.G.& A OE. Both A&C O Both B 8D

Answer & Explanation Solved by verified expert

See Answer