Brief Exercise 19-16 Montana Company produces basketballs. It incurred the follo

Question

Brief Exercise 19-16 Montana Company produces basketballs. It incurred the following costs during the year. Direct materials $14,312 Direct labor $25,436 Fixed manufacturing overhead $10,230 Variable manufacturing overhead $32,136 Selling costs $21,185 What are the total product costs for the company under variable costing? Total product costs

Brief Exercise 19-16 Montana Company produces basketballs. It incurred the following costs during the year. Direct materials $14,312 Direct labor $25,436 Fixed manufacturing overhead $10,230 Variable manufacturing overhead $32,136 Selling costs $21,185 What are the total product costs for the company under variable costing? Total product costs

Exercise 21-1 For the quarter ended March 31, 2012, Maris Company accumulates the following sales data for its product, Garden-Tools: $320,500 budget; $335,000 actual. Prepare a static budget report for the quarter. MARIS COMPANY Sales Budget Report For the Quarter Ended March 31, 2012, Product Line Budget Actual Difference Garden-Tools $ $ $ Brief

Exercise 21-4 Gundy Company expects to produce 1,213,320 units of Product XX in 2012. Monthly production is expected to range from 77,530 to 113,670 units. Budgeted variable manufacturing costs per unit are direct materials $5, direct labor $6, and overhead $11. Budgeted fixed manufacturing costs per unit for depreciation are $5 and for supervision are $2. Prepare a flexible manufacturing budget for the relevant range value using 18,070 unit increments. (List variable costs before fixed costs.) GUNDY COMPANY Monthly Flexible Manufacturing Budget For the Year 2012

Explanation / Answer

19-16

otal product costs under variable costing-

Direct materials $14,312

Direct labor $25,436

Variable manufacturing overhead $32,136

Product cost=14312+25436+32136

=$71,884

*

Selling and ifxed cost are irrlevent in variable costing.

Fixed manufacturing overhead $10,230

Selling costs $21,185

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