selling price per unit 225 sales 360 000 direct materials used 176 000 direct labor 4307962

Selling price per unit$225

Sales$360,000

Direct materials used$176,000

Direct labor$100,000

Variable factory overhead$44,000

Fixed factory overhead$80,000

Variable selling and administrative expenses$20,000

Fixed selling and administrative expenses$10,000

Ending inventory, Direct Materials0

Ending inventory, Work-in-process0

Ending inventory, Finished Goods400 units

Under variable costing, the variable manufacturing cost of goods sold is ________.

A) $256,000

B) $272,000

C) $320,000

D) $360,000

12) Iowa Company reported the following information about the production and sale of its only product during the first month of operations:

Selling price per unit$225

Sales$360,000

Direct materials used$176,000

Direct labor$100,000

Variable factory overhead$44,000

Fixed factory overhead$80,000

Variable selling and administrative expenses$20,000

Fixed selling and administrative expenses$10,000

Ending inventory, Direct Materials0

Ending inventory, Work-in-process0

Ending inventory, Finished Goods400 units

Under variable costing, the contribution margin is ________.

A) $20,000

B) $40,000

C) $84,000

D) $104,000

13) Penn Company reported the following information about the production and sale of its only product during the first month of operations:

Selling price per unit$225

Sales$360,000

Direct materials used$176,000

Direct labor$100,000

Variable factory overhead$44,000

Fixed factory overhead$80,000

Variable selling and administrative expenses$20,000

Fixed selling and administrative expenses$10,000

Ending inventory, Direct Materials0

Ending inventory, Work-in-process0

Ending inventory, Finished Goods400 units

Under variable costing, the operating income or loss is ________.

A) $(6,000)

B) $(70,000)

C) $10,000

D) $41,000

14) Schmidt Company reported the following information about the production and sale of its only product during the first month of operations:

Selling price per unit$65

Sales$78,000

Direct materials used$25,000

Direct labor$42,000

Variable factory overhead$17,000

Fixed factory overhead?

Variable selling and administrative expenses$3,000

Fixed selling and administrative expenses$5,000

Gross profit$30,000

Ending inventory, Direct Materials0

Ending inventory, Work-in-process0

Ending inventory, Finished Goods1,200 units

Under variable costing, what is the product cost per unit?

A) $35.00

B) $36.25

C) $37.92

D) $65.00

15) Schumann Company reported the following information about the production and sale of its onlyproduct during the first month of operations:

Selling price per unit$65

Sales$78,000

Direct materials used$25,000

Direct labor$42,000

Variable factory overhead$17,000

Fixed factory overhead?

Variable selling and administrative expenses$3,000

Fixed selling and administrative expenses$5,000

Gross profit$30,000

Ending inventory, Direct Materials0

Ending inventory, Work-in-process0

Ending inventory, Finished Goods1,200 units

Under variable costing, the cost of ending inventory of finished goods is ________.

A) $42,000

B) $48,000

C) $84,000

D) $96,000

16) Brucker Industries Inc. reported the following information about the production and sale of its only product during the first month of operations:

Selling price per unit$65

Sales$78,000

Direct materials used$25,000

Direct labor$42,000

Variable factory overhead$17,000

Fixed factory overhead?

Variable selling and administrative expenses$3,000

Fixed selling and administrative expenses$5,000

Gross profit$30,000

Ending inventory, Direct Materials0

Ending inventory, Work-in-process0

Ending inventory, Finished Goods1,200 units

Under variable costing, the variable manufacturing cost of goods sold is ________.

A) $42,000

B) $48,000

C) $84,000

D) $96,000

17) Goldberg Industries reported the following information about the production and sale of its only product during the first month of operations:

Selling price per unit$65

Sales$78,000

Direct materials used$25,000

Direct labor$42,000

Variable factory overhead$17,000

Fixed factory overhead?

Variable selling and administrative expenses$3,000

Fixed selling and administrative expenses$5,000

Gross profit$30,000

Ending inventory, Direct Materials0

Ending inventory, Work-in-process0

Ending inventory, Finished Goods1,200 units

Under variable costing, the contribution margin is ________.

A) $7,000

B) $21,000

C) $33,000

D) $34,500

18) Becker Industries Inc. reported the following information about the production and sale of its only product during the first month of operations:

Selling price per unit$97.50

Sales$117,000

Direct materials used$37,500

Direct labor$63,000

Variable factory overhead$25,500

Fixed factory overhead?

Variable selling and administrative expenses$4,500

Fixed selling and administrative expenses$7,500

Gross profit$45,000

Ending inventory, Direct Materials0

Ending inventory, Work-in-process0

Ending inventory, Finished Goods1,200 units

Under variable costing, what is the product cost per unit?

A) $52.50

B) $54.38

C) $56.88

D) $97.50

19) Wrobel Industries Inc. reported the following information about the production and sale of its only product during the first month of operations:

Selling price per unit$97.50

Sales$117,000

Direct materials used$37,500

Direct labor$63,000

Variable factory overhead$25,500

Fixed factory overhead?

Variable selling and administrative expenses$4,500

Fixed selling and administrative expenses$7,500

Gross profit$45,000

Ending inventory, Direct Materials0

Ending inventory, Work-in-process0

Ending inventory, Finished Goods1,200 units

Under variable costing, what is the cost of the finished goods ending inventory?

A) $63,000

B) $72,000

C) $126,000

D) $144,000

20) Johnsen Industries Inc. reported the following information about the production and sale of its only product during the first month of operations:

Selling price per unit$97.50

Sales$117,000

Direct materials used$37,500

Direct labor$63,000

Variable factory overhead$25,500

Fixed factory overhead?

Variable selling and administrative expenses$4,500

Fixed selling and administrative expenses$7,500

Gross profit$45,000

Ending inventory, Direct Materials0

Ending inventory, Work-in-process0

Ending inventory, Finished Goods1,200 units

Under variable costing, what is the variable manufacturing cost of goods sold?

A) $63,000

B) $72,000

C) $126,000

D) $144,000