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Please help me Opsen Manufacturing Company sells its products for $77 per...

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Accounting

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Opsen Manufacturing Company sells its products for $77 per unit. Beginning finished goods inventory for the year is zero. The following data relates to the year ended 30 June 2021 : Unit manufacturing costs are: Direct materials Direct manufacturing labour Variable manufacturing overhead Total fixed manufacturing overhead Marketing expenses $12.00 $18.00 $9.00 $360,000 $6.00 per unit, plus $200,000 per year The current planned and actual production level is 50,000 units. The company anticipates only 40,000 units to be sold. Required: (a) Compute the Gross Profit and Net Profit under absorption costing (you may show workings using an Absorption Income Statement or other means). (9 marks) (b) Compute the Contribution Margin and Net Profit under variable costing (you may show workings using a Variable Income Statement or other means). (8 marks)

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