Selected data for Babar Ltd of past year of operations are presented below ...
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Accounting
Selected data for Babar Ltd of past year of operations are presented below
Product X
Production [ in units ] 25000
Sales [ in units ] 18000
Selling price $4.00
DLHours 8000
Manufacturing cost
Raw Materials [$] 17000
Salaries of direct labour[$] 24000
Variable overhead 14000
Fixed overhead 8000
Non manufacturing cost
Variable selling 18000
Fixed selling cost 15000
Estimated fixed cost = $28000
Budgeted Machine hours = 8400
Company uses absorption cost based on machine hours
REQUIRED
1. Calculate product cost of product X using variable cost .
2. Calculate product cost of product X using absorption cost ..
3. Calculate variable cost of goods for the year
4. Find the variable-costing net income
5. Calculate cost of goods for the year using absorption method
6. Find the net income using absorption method
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