Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are

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Ida Company Produces A Handcrafted Musical Instrument Called A Gamelan That Is Similar To A Xylophone The Gamelans Are 1 (44.36 KiB) Viewed 34 times

Ida Company Produces A Handcrafted Musical Instrument Called A Gamelan That Is Similar To A Xylophone The Gamelans Are 2 (29.85 KiB) Viewed 34 times

Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $863. Selected data for the company's operations last year follow: Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead Fixed selling and administrative 0 13,000 11,000 2,000 1. Absorption costing unit product cost 2. Variable costing unit product cost $ 130 $ 460 $ 49 $ 22 $ 960,000 $ 790,000 Required: 1. Assume that the company uses absorption costing. Compute the unit product cost for one gamelan. (Round your intermediate calculations and final answer to the nearest whole dollar amount.) 2. Assume that the company uses variable costing. Compute the unit product cost for one gamelan.

Jorgansen Lighting, Incorporated, manufactures heavy-duty street lighting systems for municipalities. The company uses variable costing for internal management reports and absorption costing for external reports to shareholders, creditors, and the government. The company has provided the following data: Year 3 Inventories Beginning (units) Ending (units) 200 160 200 240 Variable costing net operating income $ 300,000 $ 269,000 $ 250,000 The company's fixed manufacturing overhead per unit was constant at $570 for all three years. O Increase O Decrease Year 1 2. Assume in Year 4 that the company's variable costing net operating income was $240,000 and its absorption costing net operating income was $300,000. a. Did inventories increase or decrease during Year 4? Fixed manufacturing overhead cont Year 2 160 200 b. How much fixed manufacturing overhead cost was deferred or released from inventory during Year 4? inventory during Year 4