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

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Question

Accounting

Chuck Wagon Grills, Inc., makes a single producta handmade specialty barbecue grill that it sells for $205. Data for last years operations follow:

Units in beginning inventory 0
Units produced 9,600
Units sold 9,300
Units in ending inventory 300
Variable costs per unit:
Direct materials $ 65
Direct labor 38
Variable manufacturing overhead 14
Variable selling and administrative 20
Total variable cost per unit $ 137
Fixed costs:
Fixed manufacturing overhead $ 278,400
Fixed selling and administrative 525,000
Total fixed costs $ 803,400

Required:

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

2. Assume that the company uses absorption costing. Prepare an income statement for last year.

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Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assume that the company uses absorption costing. Compute the unit product cost for one barbecue grill. Unit product cost Required 1 Required 2 Assume that the company uses absorption costing. Prepare an income statement for last year. Chuck Wagon Grills, Inc. Absorption Costing Income Statement Net operating income (loss)

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