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L15.2030 - Cost Accounting (2025/2026)
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Which of the following is TRUE?
Company X produces product P. Each product is sold for $170. Actual fixed costs are the same as the amount fixed costs budgeted for the month. In March, Company X provided the following information:
- production: 6000 units
- sales: 4500 units
- ending inventory: 1500 units
- Variable manufacturing costs | $127 per unit |
- Fixed manufacturing costs | $ 84776 per month |
- Fixed administrative costs | $ 21000 per month |
Company also incurs a sales commission of $20 per unit.
What is the gross margin per unit when using absorption costing?
Company X has 2 departments: A and B. Indirect costs are allocated to both departments using one of the following criteria:
| Department A | Department B | |
| Number of customers | 4650 | 6550 |
| Number of units sold | 1020 | 466 |
| Sales $ | $550000 | $1230000 |
The total amount of indirect costs is $61539. If these are allocated based on the number of units sold, the amount allocated to the Department A would be:
Company X presents the following information:
- Variable manufacturing costs per unit = $150
- Fixed manufacturing cost per unit = $145
- Production = 1500 units
- Inventory, 1st January = 600 units
- Inventory, 31st January =1100 units
What will be the amount of fixed manufacturing costs expensed in the Income statement, if absorption costs is used, assuming no variances?
Company X manufactures and sells 2 products: Product AA and product BB. The company sells these products in bundles, each containing 2 units of AA and 3 units of BB. The following data is available:
Product AA
- selling price: $25/unit
- variable cost: $20/unit
Product BB
- selling price: $45/unit
- variable cost: $35/unit
Other costs:
- Fixed manufacturing cost: $250000
- Fixed general cost: $150000
- Income taxes at a rate of 25%
The company has a target after tax net income of $300000. How many bundles does the company need to sell in order to achieve this target?
What are two ways of reducing the negative aspects associated with using absorption costing to evaluate the performance of a plant manager?
Company X presents the following information:
- Sales = 2000 units
- Actual production = 1200 units
- Budgeted production = 1000 units
- Fixed manufacturing costs = $ 318213,7
What will be the Production Volume Variance of Company X, in absorption costing and in variable costing?
- Negative PVV = favourable adjustment to cogs (cogs decreases)
- Positive PVV = unfavourable adjustment to cogs (cogs increases)
Company X presents the following information:
Fixed
costs = $15000
Break-even
sales = $60000
What is the profit/(loss) of
the company if sales are equal to $34912?
The following information is available fro Company X:
- The company uses an absorption costing system
- The company has failed to reach its planned activity level during its first 2 years of operation
- Revenues and costs are constant across the three years in consideration
- Income has been positive in both Year 1 and Year 2
| units produced | units sold | planned activity (units) | |
|---|---|---|---|
| Year 1 | 180,000 | 180,000 | 200,000 |
| Year 2 | 190,000 | 190,000 | 200,000 |
| Year 3 | 180,000 | 180,000 | 200,000 |
Company X's gross margin for Year 3 should be ______________.
Company X manufactures and sells a single product. The following data is available for Year 1:
- Projected annual revenues $7500000 (7.5 million)
- Cost of merchandise 20% of revenue
- Sales commissions 3% of revenue
- Shipping expenses 7% of revenue
- Annual fixed marketing expenses $710116
- Annual administrative expenses $1809410
The company’s margin of safety in terms of revenues is: