Required information [The following information applies to the questions displayed below) Chuck Wagon Grills, Inc.,...
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Required information [The following information applies to the questions displayed below) Chuck Wagon Grills, Inc., makes a single product-a handmade specialty barbecue grill that it sells for $210. Data for last year's operations follow: 0 24,400 21,200 3,200 Units in beginning inventory Units produced Units sold Unitn in ending inventory Variable conta per uniti Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Total variable cont per unit Fixed costs Tixed manufacturing overhead Fixed selling and administrative Total fixed costs 50 80 20 10 160 $ 854,000 318,000 $1,172,000 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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