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    MAS-03 Worksheet

    Uploaded by

    Paupau
    Sections 7-9 provide examples comparing absorption and variable costing for different companies, showing ending inventory costs and net income amounts.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    MAS-03 Worksheet

    Uploaded by

    Paupau
    63 views32 pages
    Sections 7-9 provide examples comparing absorption and variable costing for different companies, showing ending inventory costs and net income amounts.

    Original Title

    MAS-03 Worksheet (2)

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    © © All Rights Reserved

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    Sections 7-9 provide examples comparing absorption and variable costing for different companies, showing ending inventory costs and net income amounts.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    63 views32 pages

    MAS-03 Worksheet

    Uploaded by

    Paupau
    Sections 7-9 provide examples comparing absorption and variable costing for different companies, showing ending inventory costs and net income amounts.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 32

    DEE ONE

    1. Beginning Inventory 35,000


    Add: production unit 130,000
    Total 165,000
    Less: sales in units 140,000
    Total 25,000
    Multiply: unit cost 30
    Ending inventory absorption costing 750,000

    2. Beginning inventory 35,000


    Add:production unit 130,000
    Total 165,000
    Less: sales in units 140,000
    Total 25,000
    Multiply: unit cost 25
    Ending inventor variable costing 625,000

    3. 2,120,000
    Fixed Selling 980,000
    Fixed Admin 425,000
    Fixed MOH 700,000
    (140,000 X 5)
    Under Applied (600,000 - 715,000) 65,000
    2,170,000

    4. Units sold 140,000


    45
    6,300,000

    5. Variable Cost (25 x 140000) 3,500,000


    Variable Selling (8 x 140,000) 1,120,000
    Variance - Over applied -120,000
    4,620,000
    6. 50,000
    AC VC
    Sales 9,800,000 9,800,000
    COGS -4,200,000 -3,500,000
    Variable - F -65,000
    Variable Selling -1,000,000 -1,000,000
    Fixed Selling -980,000 -980,000
    Fixed Admin -425,000 -425,000
    Net Income 3,130,000 3,180,000 50,000
    12+9+4+5

    12+9+4

    C
    B
    BANO
    7

    ABSORPTION
    Sales (120,000 x P40)
    CGS ((200,000 x P30) + 600,000) 6,600,000.00
    Ending inventory (80,000 x ((600,000/200,000)+30)) (2,640,000.00)
    Gross profit
    Selling and admin
    Net Income b.
    8

    VARIABLE
    4,800,000.00 Sales (120,000 x P40) 4,800,000.00
    VC (120,000 x P30) (3,600,000.00)
    (3,960,000.00) CM 1,200,000.00
    840,000.00 Actual fixed manufacturing 600,000.00
    (400,000.00) Selling and admin 400,000.00 (1,000,000.00)
    440,000.00 Net Income a. 200,000.00
    Jocelyn
    9
    BEG.INV (16K X 40) 640,000
    NET INCOME -240,000
    TOTAL 400,000/40 = 10,000 / B
    Datu
    10-13

    10
    Variable production cost 400
    x ending inventory
    (12,500-10,000) 2,500
    Ending inventory cost - variable 1,000,000 C

    11
    Production cost [400+(1,750,000/12,500)] 540
    x ending inventory (12,500-10,000) 2,500
    Ending inventory cost - absorption 1,350,000 D

    12
    Variable cost per unit (VFOH+VExp)
    (400 x 10,000 sold) + (150 x 12,500 produced)
    Total variable annual cost expensed 5,875,000 B

    13
    Fixed cost per unit (1,750,000/12,500) 140
    x units sold 10,000
    FC on units sold 1,400,000
    Add: Annual fixed selling expense 250,000
    Total fixed annual cost expensed 1,650,000 D
    Bastona

    14 Number of units produced 200,000


    Number of units sold 162,500
    Ending Inventory 37,500
    Multiply by: Cost per unit 81
    Enging FG Inventory 3,037,500 B.

    DM 8,875,000/200,000 44.375
    DL 4,250,000/200,000 21.25
    MOH (Variable) 3,075,000/200,000 15.375
    Total cost per unit 81

    15 Ending Inventory 37,500


    MOH (Fixed) (5,500,000/200,000) 27.5
    Higher Operating Income (Absorption) 1,031,250 B.
    Chuidian
    16-18

    16 Budgeted Actual FO
    (1000x6/12) 500,000
    Applied FO units 120,000
    FO / unit
    (1000/200 units) 5
    Applied FO -600,000
    Overapplied by 100,000

    17 Sales
    (60,000 units)(8,000sales/200units) 2,400,000
    COGS
    Absorption & variable
    (60,000 units)(2,000/200) -1,200,000
    GP 1,200,000
    Fixed & variable selling and other exp
    (800,000x6/12)+(1,200,000x6/12) -1,000,000
    Net inome 200,000

    18 Sales 2400000
    (60,000 units)(8,000sales/200units) -900000
    Budgeted actual fix FO -500,000
    Fixed selling and other exp -400,000
    Total 600,000

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