Use the following data for the next seven questions: V Variable production costs
ID: 2375618 • Letter: U
Question
Use the following data for the next seven questions:
V Variable production costs $480,000
Variable S and A costs $ 55,000
Fixed S and A costs $100,000
Fixed production costs $270,000
Unit sales price $8
Production in units 120,000
Sales in units 110,000
14. Under variable costing, the production cost per unit is:
A. $2.25
B. $6.25
C. $4.36
D. $4.00
15. Under full costing, the value of the ending inventory is:
A. $80,000.
B. $62,500.
C. $40,000.
D. $210,000.
16. Under full costing, net income (loss) is:
A. $37,500
B. $15,000
C. $(25,000)
D. None of the above.
17. Under variable costing, the contribution margin is:
A. $192,000
B. $345,000
C. $385,000
D. $400,000
18. Under full costing, the amount of deferred overhead is:
A. $0
B. $22,500
C. $270,000
D. None of the above.
19. Under variable costing, total period costs are:
A. $155,000
B. $177,500
C. $425,000
D. $370,000
20. Under full costing, cost of goods sold is:
A. $400,000
B. $495,000
C. $440,000
D. $687,500
Explanation / Answer
14. b. 6.25
15. b. 62500
16.c.(25000)
17. B 345000
18.c. 27000
19. d. 370000
20. b. 495000
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