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Hiu Student Name: Ying Chu WARNING: You may create working copies of this file but you may 41812166 Student Number: or all of individual sheets to...

1. how to calculate the MOH applied
2. how to calculate the under/over applied MOH
3. how to calculate the profit under apbsopting costing base on the profit of variabling costing
PS information in in the file
Student N Hiu Ying Chu Student N 41812166 Trepidity Pty Ltd makes a single product and uses absorption costing. It applies manufacturing overhead at $3.10 per unit based on the following annual budgets: $ Variable manufacturing overhead 55,680 Fixed manufacturing overhead 160,080 215,760 Budgeted annual production lebe 69,600 units Production and inventories are valued at actual prime cost plus applied overhead. Opening inventory, production and sales for the first month in the financial year show: Units Opening inventory 1,180 Units produced in July 5,040 Units sold in July 5,160 Actual costs incurred in July were: $ Direct materials 12,600 Direct labour 9,072 Variable manufacturing overhead 3,882 Fixed manufacturing overhead 13,486 Marketing expense—variable 8,772 Marketing and administrative exp 10,370 The sales price per unit is $10.00 per unit Management have asked for an income statement that will show the contribution margin for the period. Required: Inventory at 1 July is at current months costs. may not copy formulas from one file to another, even if both files On the worksheet called Income_Statement - a) Prepare a budgeted income statement for the month of July using variable costing . b) Calculate the profit that will be shown using absorption costing .
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Enter a formula in each of the blue coloured cel s. Show any overapplied overhead or net loss as a negative figure. Al other figures must be positive numbers. a) Budgeted Income Statement - Variable Costing For the month of July Sales $51,600.00 Less: Variable Costs Variable cost of goods sold Inventory - 1 July $1,180.00 Enter a formula in each of the blue coloured cel s. Show any overapplied overhead or Cost of goods manufactured - net loss as a negative figure. Al other figures must be positive numbers. Direct materials $12,600.00 Direct labour $9,072.00 a) Budgeted Income Statement - Variable Costing Manufacturing overhead applied $3,882.00 $25,554.00 For the month of July Cost of goods available for sale $26,734.00 Less: Inventory 31 July $1,060.00 Sales ### Applied cost of goods sold $25,674.00 Less: Variable Costs Under/(Over) applied manufactturing overhead Variable cost of goods sold Variable cost of goods sold Inventory - 1 July $1,180.00 Variable marketing expense $8,772.00 Cost of goods manufactured - Total variable costs Dire ### Contribution Margin Dire $9,072.00 Less: Fixed Expense Man $3,882.00 ### Manufacturing overhead $13,486.00 Cost of goods ava ### Marketing expense $10,370.00 Less: Inventory 3 $1,060.00 Total fixed expense $23,856.00 Applied cost of g ### Under/(Over) applied manufactturing overhead Net Profit (Loss) Variable cost of goods sold Variable marketin $8,772.00 Total variable costs b) Net profit (loss) using absorption costing Contribution Margin Less: Fixed Expense Manufacturing over ### Marketing expense ### Total fixed expense ### Net Profit (Loss) b) Net profit (loss) using absorption costing
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