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Exam 6: Variable Costing and Segment Reporting: Tools for Management

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Question 31

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Bryans Corporation has provided the following data for its two most recent years of operation: -The unit product cost under absorption costing in Year 1 is closest to:

A) $35.00
B) $31.00
C) $7.00
D) $24.00

E) A) and B)
F) All of the above

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Question 32

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Younie Corporation has two divisions: the South Division and the West Division.The corporation's net operating income is $26,900.The South Division's divisional segment margin is $42,800 and the West Division's divisional segment margin is $29,900.What is the amount of the common fixed expense not traceable to the individual divisions?

A) $56,800
B) $69,700
C) $72,700
D) $45,800

E) A) and C)
F) A) and D)

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Question 33

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Koff Corporation has two divisions: Garden Division and Farm Division.The following report is for the most recent operating period: Required: a.What is the Garden Division's break-even in sales dollars? b.What is the Farm Division's break-even in sales dollars? c.What is the company's overall break-even in sales dollars? d.What would be the company's overall net operating income if the company operated at its two division's break-even points?

A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: What is the net operating income for the month under absorption costing?

Ross Corporation produces a single product. The company has direct materials costs of $8 per unit, direct labor costs of $6 per unit, and manufacturing overhead of $10 per unit. Sixty percent of the manufacturing overhead is for fixed costs. In addition, variable selling and administrative expenses are $2 per unit, and fixed selling and administrative expenses are $3 per unit at the current activity level. Assume that direct labor is a variable cost. -Under variable costing,the unit product cost is:

Olguin Corporation produces a single product and has the following cost structure: Required: a.Compute the unit product cost under absorption costing.Show your work! b.Compute the unit product cost under variable costing.Show your work!

Bryans Corporation has provided the following data for its two most recent years of operation: -The unit product cost under absorption costing in Year 2 is closest to:

McCoy Corporation manufactures a computer monitor. Shown below is McCoy's cost structure: In its first year of operations, McCoy produced 100,000 monitors but only sold 95,000. McCoy's gross margin in this first year was $2,629,600. McCoy's contribution margin in this first year was $2,109,000. -Under variable costing,what is McCoy's net operating income for its first year?

Hadley Corporation, which has only one product, has provided the following data concerning its most recent month of operations: -The total contribution margin for the month under variable costing is:

Spiess Corporation has two major business segments--Apparel and Accessories.Data concerning those segments for December appear below: Common fixed expenses totaled $309,000 and were allocated as follows: $142,000 to the Apparel business segment and $167,000 to the Accessories business segment. Required: Prepare a segmented income statement in the contribution format for the company.Omit percentages; show only dollar amounts.

Absorption costing treats all fixed costs as product costs.

The Southern Corporation manufactures a single product and has the following cost structure: Last year, 7,000 units were produced and 6,800 units were sold. There was no beginning inventory. -Under variable costing,the unit product cost would be:

When sales exceed production and the company uses the LIFO inventory flow assumption,the net operating income reported under variable costing generally will be:

Farris Corporation, which has only one product, has provided the following data concerning its most recent month of operations: -What is the net operating income for the month under variable costing?

Bellue Inc.manufactures a single product.Variable costing net operating income was $96,300 last year and its inventory decreased by 2,600 units.Fixed manufacturing overhead cost was $1 per unit for both units in beginning and in ending inventory.What was the absorption costing net operating income last year?

Phinisee Corporation manufactures a single product.The following data pertain to the company's operations over the last two years: Required: a.Determine the absorption costing net operating income for last year.Show your work! b.Determine the absorption costing net operating income for this year.Show your work!

Absorption costing treats all manufacturing costs as product costs.

Caruso Inc., which produces a single product, has provided the following data for its most recent month of operations: There were no beginning or ending inventories. -The unit product cost under absorption costing was:

J Corporation has two divisions.Division A has a contribution margin of $79,300 and Division B has a contribution margin of $126,200.If total traceable fixed expenses are $72,400 and total common fixed expenses are $34,900,what is J Corporation's net operating income?

Bertie Corporation has two divisions: Retail Division and Wholesale Division. The following data are for the most recent operating period: The common fixed expenses of the company are $103,360. -The company's overall break-even sales is closest to: