Chapter 8 Solutions to Cornerstone Exercises

Chapter 8 Solutions to Cornerstone Exercises - CHAPTER 8...

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CHAPTER 8 SOLUTIONS TO CORNERSTONE EXERCISES Cornerstone Exercise 8–13 1. Units ending inventory = Units beginning inventory + Units produced – Units sold = 400 + 12,000 – 11,200 = 1,200 2. Direct materials $ 25 Direct labor 80 Variable overhead 20 Fixed overhead 30 Unit product cost $155 3. Value of ending inventory = 1,200 × $155 = $186,000 Cornerstone Exercise 8–14 1. Units ending inventory = Units beginning inventory + Units produced – Units sold = 400 + 12,000 – 11,200 = 1,200 2. Direct materials $ 25 Direct labor 80 Variable overhead 20 Unit product cost $125 3. Value of ending inventory = 1,200 × $125 = $150,000
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Cornerstone Exercise 8–15 1. Direct materials $20 Direct labor 14 Variable overhead 3 Fixed overhead 5 Unit COGS $42 Total COGS = $42 × 7,500 units = $315,000 2. Engers Company Income Statement Under Absorption Costing For the Most Recent Year Sales ($70 × 7,500). .................................................................... $525,000 Less: Cost of goods sold. ......................................................... 315,000
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This note was uploaded on 10/20/2011 for the course ACC 222 taught by Professor Brewer during the Spring '08 term at Miami University.

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Chapter 8 Solutions to Cornerstone Exercises - CHAPTER 8...

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