Unlock document.
This document is partially blurred.
Unlock all pages and 1 million more documents.
Get Access
An asterisk (*) will appear to the right of an incorrect entry.
a.
-
-
-
-
=
Based on highest level:
Total cost
Units produced
x Variable cost per unit
Total variable cost
Total fixed cost
b.
Based on 12,000 units:
Total variable cost
Total fixed cost (from above)
Total cost
Cells with non-gray backgrounds are protected and cannot be edited.
[Key code here]
Answers are entered in the cells with gray backgrounds.
Variable Cost per Unit
=
Difference in Total Costs
Difference in Production
Instructions
Exercise 21-7
Name:
Section:
0%
Score:
Key Code:
=
=
=
An asterisk (*) will appear to the right of an incorrect entry.
a.
-
-
Based on highest level:
Total cost $640,000
b.
Based on 12,000 units:
Total variable cost $408,000
Cells with non-gray backgrounds are protected and cannot be edited.
Cost at Low Point
Variable Cost per Unit
=
Difference in Total Costs
=
Exercise 21-7
Name:
Solution
Section:
Score:
Instructions
Answers are entered in the cells with gray backgrounds.
ON
Units Produced at Low Point
Difference in Production
Cost at High Point
Units Produced at High Point
An asterisk (*) will appear to the right of an incorrect entry.
a.
-
-
= million (rounded) accounts
Supporting calculations:
Revenue per account (in millions):
Total revenue (in millions)
Total accounts (in millions)
Revenue per account (in millions)
Variable cost per account (in millions): Variable
Full Amount Percentage
Cost of revenue (in millions)
Selling, gen., admin. exp. (in millions)
Total variable costs
Divided by number of accounts
Variable cost per account (in millions)
Total fixed costs (in millions): Fixed
Full Amount Percentage
Cost of revenue (in millions)
Selling, gen., admin. exp. (in millions)
Depreciation
Total fixed costs (in millions)
b.
Break-even (in $ revenue, in millions):
Total costs
Divided by number of accounts
Break-even million
0%
Score:
Key Code:
[Key code here]
Answers are entered in the cells with gray backgrounds.
=
Break-Even (in accounts)
Cells with non-gray backgrounds are protected and cannot be edited.
Exercise 21-16
Name:
Section:
=
=
Instructions
An asterisk (*) will appear to the right of an incorrect entry.
a.
-
Supporting calculations:
Revenue per account (in millions):
Total revenue (in millions) 35,345$
Variable cost per account (in millions): Variable
Full Amount Percentage
Cost of revenue (in millions) 20,841$ 70% 14,588.7$
Total fixed costs (in millions): Fixed
Full Amount Percentage
Cost of revenue (in millions) 20,841$ 30% 6,252.3$
b.
Break-even (in $ revenue, in millions):
Total costs 32,845.0$
Total Fixed Costs
Variable Cost per Account
$15,326.8
Break-Even (in accounts)
Answers are entered in the cells with gray backgrounds.
ON
Cells with non-gray backgrounds are protected and cannot be edited.
Score:
Instructions
Exercise 21-16
Name:
Solution
Section:
=
Revenue per Account
An asterisk (*) will appear to the right of an incorrect entry.
a.
Sales (96,000 units)
Variable cost of goods sold:
Variable cost of goods manufactured
Less ending inventory (24,000 units)
Variable cost of goods sold
Manufacturing margin
Variable selling and administrative expenses
Contribution margin
Fixed costs:
Fixed manufacturing costs
Fixed selling and administrative expenses
Income from operations
Supporting calculations:
Variable cost of goods manufactured:
Total cost of goods manufactured
Fixed manufacturing costs
Variable cost of goods manufactured
Ending inventory:
Variable cost of goods manufactured
Units manufactured
Variable cost per unit
x Number of units remaining
Ending inventory
Fixed selling and administrative expenses:
Total selling and administrative expenses
Variable selling and administrative expenses
Fixed selling and administrative expenses
b.
Absorption costing income from operations
Variable costing income from operations
Difference
Cells with non-gray backgrounds are protected and cannot be edited.
[Key code here]
Answers are entered in the cells with gray backgrounds.
Score:
Key Code:
Instructions
RHYS COMPANY
Income Statement - Variable Costing
For the Month Ended July 31, 2016
Exercise 21-27
Name:
Section:
0%
Reconciliation:
Unit change in inventory
Fixed overhead per unit
Income from operations difference
An asterisk (*) will appear to the right of an incorrect entry.
a.
Sales (96,000 units) 4,440,000$
Variable cost of goods sold:
Variable cost of goods manufactured 2,988,000$
Supporting calculations:
Variable cost of goods manufactured:
Total cost of goods manufactured 3,120,000$
Fixed manufacturing costs 132,000
Fixed selling and administrative expenses:
Total selling and administrative expenses 288,000$
b.
Absorption costing income from operations 1,656,000$
Exercise 21-27
Name:
Solution
Section:
RHYS COMPANY
Income Statement - Variable Costing
For the Month Ended July 31, 2016
ON
Cells with non-gray backgrounds are protected and cannot be edited.
Score:
Instructions
Answers are entered in the cells with gray backgrounds.
Reconciliation:
An asterisk (*) will appear to the right of an incorrect entry.
a.
Sales (420,000 units)
Cost of goods sold: Unit Cost ×Units
Cost of goods manufactured
Less ending inventory
Cost of goods sold
Gross profit
Selling and administrative expenses
Income from operations
Supporting calculation:
Unit cost:
Variable cost of goods manufactured
Fixed manufacturing costs
Total cost of goods manufactured
Total units produced
Unit cost
b.
Absorption costing income from operations
Variable costing income from operations
Difference
Reconciliation:
Unit change in inventory
Fixed overhead per unit
Income from operations difference
Cells with non-gray backgrounds are protected and cannot be edited.
[Key code here]
Answers are entered in the cells with gray backgrounds.
Score:
Key Code:
Instructions
TUDOR MANUFACTURING CO.
Income Statement - Absorption Costing
For the Month Ended June 30, 2016
Exercise 21-28
Name:
Section:
0%
An asterisk (*) will appear to the right of an incorrect entry.
a.
Sales (420,000 units) 7,450,000$
Cost of goods sold: Unit Cost ×Units
Cost of goods manufactured $14.32 500,000 7,160,000$
Supporting calculation:
Unit cost:
Variable cost of goods manufactured 7,000,000$
Fixed manufacturing costs 160,000
b.
Absorption costing income from operations 1,280,600$
Variable costing income from operations 1,255,000
For the Month Ended June 30, 2016
ON
Cells with non-gray backgrounds are protected and cannot be edited.
Score:
Instructions
Answers are entered in the cells with gray backgrounds.
TUDOR MANUFACTURING CO.
Exercise 21-28
Name:
Solution
Section:
Income Statement - Absorption Costing
