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Chuck Wagon Grills, Inc., makes a single producta handmade specialty barbecue grill that it sells...

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Accounting

Chuck Wagon Grills, Inc., makes a single producta handmade specialty barbecue grill that it sells for $200. Data for last years operations follow:

Units in beginning inventory 0
Units produced 10,000
Units sold 8,800
Units in ending inventory 1,200
Variable costs per unit:
Direct materials $ 60
Direct labor 40
Variable manufacturing overhead 10
Variable selling and administrative 30
Total variable cost per unit $ 140
Fixed costs:
Fixed manufacturing overhead $ 180,000
Fixed selling and administrative 330,000
Total fixed costs $ 510,000

Required:

1. Assume that the company uses variable costing. Compute the unit product cost for one barbecue grill.

Unit product cost____________

2. Assume that the company uses variable costing. Prepare a contribution format income statement for the year.

Chuck Wagon Grills, Inc.
Variable Costing Income Statement
Variable expenses:
0
0
Fixed expenses:
0

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