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Hello, I need operating income for each capacity concept (Theoretical capacity, Practical capacity, and Normal capacity utilization) Thank you so much for helping!

Data table $ . B D E Budgeted Fixed Days of Hours of Manufacturing Production Production Barrels per 1 Denominator-Level Capacity Concept Overhead per Period per Period per Day Hour 2 Theoretical capacity $ 28,300,000 360 24 530 3 Practical capacity 28,300,000 352 20 500 4 Normal capacity utilization $ 28,300,000 352 20 395 Master-budget capacity utilization for 5 each half year 6(a) January, June 2020 $ 14,150,000 176 20 310 7 (b) July-December 2020 14,150,000 176 20 480 $ HA Requirements 0 1. Compute the budgeted fixed manufacturing overhead rate per barrel for each of the denominator-level capacity concepts. Explain why they are different. 2. In 2020, the Chicago Brewery reported these production results: B 12 Beginning inventory in barrels, 1-1-2020 13 Production in barrels 2.640,000 14 Ending inventory in barrels, 12-31-2020 180,000 15 Actual variable manufacturing costs $ 79,464,000 16 Actual fixed manufacturing overhead costs $ 26,900,000 There are no variable cost variances. Fixed manufacturing overhead cost variances are written off to cost of goods sold in the period in which they occur. Compute the Chicago Brewery's operating income when the denominator-level capacity is (a) theoretical capacity, (b) practical capacity, and (c) normal capacity utilization. Zing Lager has just purchased the Chicago Brewery. The brewery is 2 years old and uses absorption costing. It will "sell its product to Zing Lager at $44 per barrel. Peter Bryant, Zing Lager's controller, obtains the following information about Chicago Brewery's capacity and budgeted fixed manufacturing costs for 2020 3 Click the icon to view the information.) Read the requirements Requirement 1. Compute the budgeted fixed manufacturing overhead rate per barrel for each of the denominator-level capacity concepts. Explain why they are different. Begin by determing the formula to calculate the budgeted fixed manufacturing overhead rate per barrel, then compute the rate for each of the denominator-level capacity concepts. (Abbreviations used: Budg. = budgeted, MOH = manufacturing overhead. Round the rates to the nearest cent.) Budgeted fixed = MOH rate per barrel Budg, fixed MOH per period Budg. denominator level (barrels) 28,300,000 - 4,579,200 = $ 6.18 28,300.000 3,520,000 = $ 8.04 28,300,000 2.780,800 = $ 10.18 Theoretical capacity $ Practical capacity $ Normal capacity utilization $ Master-budget capacity for each half year: (a) January-June 2020 (b) July-December 2020 $ 14.150.000 + 12.97 1,091,200 = $ 1,689,600 = $ 14,150,000 8.37 Explain why they are different. The theoretical and practical capacity concepts emphasize supply factors, while normal capacity utilization and master-budget utilization concepts emphasize demand factors. The six-month rates for the master-budget utilization concept are different because of seasonal differences in budgeted production. Requirement 2. Compute the Chicago Brewery's operating income when the denominator-level capacity is (a) theoretical capacity, (b) practical capacity, and (c) normal capacity utilization. Begin by completing the following table to help you compute the operating income for each denominator-level capacity concept. (Round the rates to the nearest cent.) Per barrel Denominator-level capacity concept Theoretical capacity Practical capacity Normal capacity utilization Budgeted fixed Budgeted MOH rate variable mfg per barrel cost rate $ 6.18 $ 30.10 $ 8.04 30.10 Budgeted total mfg Fixed MOH cost rate costs allocated 36.28 $ 16,315,200 38.14 21,225,600 26,875,200 10.18 30.10 40.28 Requirement 2. Compute the Chicago Brewery's operating income when the denominator-level capacity is (a) theoretical capacity, (b) practical capacity, and (c) normal capacity utilization. Begin by completing the following table to help you compute the operating income for each denominator-level capacity concept. (Round the rates to the nearest cent.) Per barrel Budgeted fixed Budgeted MOH rate variable mfg per barrel cost rate $ 6.18 $ 30.10 $ Budgeted total mfg Denominator-level Fixed MOH capacity concept Theoretical capacity Practical capacity Normal capacity utilization cost rate costs allocated 36.28 $ 16,315,200 38.14 21,225,600 8.04 30.10 10.18 30.10 40.28 26,875,200 Now compute the operating income for each capacity concept, one at a time. Label the variances as favorable (F) or unfavorable (U). (Enter a "0" for any zero balance accounts.) Theoretical capacity 108240000 79464000 16315200 Revenues Cost of goods sold Beginning inventory Variable manufacturing costs Fixed manufacturing overhead cost allocated Cost of goods available for sale Deduct ending inventory Adjustment for variances Cost of goods sold Gross margin 95779200 65304001 10584800 Other costs Operating income

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