Selling price 138 ...
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Question
Accounting
| Selling price | 138 |
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| Units in beginning inventory | 500 |
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| Units produced | 4100 |
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| Units sold | 4300 |
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| Units in inding inventory | 300 |
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| Variable cost per unit: |
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Direct material 31
Direct labor 59
Variable manu overhead 4
Variable selling and adminsi exp 9
Fixed costs:
Fixed manufacturing overhead 94,300
Fixed selling and adminsistrative expense 47,300
The company produces same amount of units every month, ALTHOUGH sales in units vary from one month to another. Variable costs and total fixed cost have been constant from month to month.
1. What is the unit product cost for the month under variable costing
2. What is the unit product cost for the month under absorption costing
3. Prepare a contribution format income statement for the month under variable costing
4. Prepare an income statement for the month under absorption costing
5. Reconcile the variable costing and absorption costing net operating income for the month
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