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    valerie2926's Avatar
    valerie2926 Posts: 1, Reputation: 1
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    #1

    Oct 25, 2009, 04:22 PM
    Flex Budgets and variances
    13-45 VARIABLE AND ABSORPTION COSTING
    CHAN MANUFACTURING COMPANY DATA FOR 20X7 FOLLOW:

    Sales: 12,000 units at $17 each
    Actual Production 15,000 Units
    Expected volume of production 18,000 units
    Manufacturing costs incurred
    Variable $120,000
    Fixed 63,000
    Nonmanufacturing costs incurred
    Variable $24,000
    Fixed 18,000



    1. Determine operating income for 20x7, assuming the firm uses the variable-costing approach to product costing (do not prepare a statement)

    2. Assume that there is no January 1, 20x7, inventory; no cariances are allocated to inventory; and the firm uses a "Full Absorption" approach ro product costing.
    Compute (a) the coast assigned to Dec. 31, 20x7, inventory; and (b) operating income for the year ended Dec 31, 20x7. ( Do not Prepare a statement).
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    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Oct 25, 2009, 09:15 PM

    Please see the guidelines for posting homework problems:
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