Solve the wrong ones and leave the procedure Pharoah Products manufactures and sells...
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Solve the wrong ones and leave the procedure
Pharoah Products manufactures and sells a variety of camping products. Recently the company opened a new factory to manufacture a deluxe portable cooking unit. Cost and sales data for the first month of operation are shown below: The portable cooking unit sells for $110.00. Management is interested in the opening month's results and has asked for an income statement. (a) Assume the company uses normal-absorption costing and uses the budgeted volume of 13,500 units to allocate the fixed overhead rate rather than the actual production volume of 10,000 units. The company expenses production volume variance to cost of goods sold in the accounting period in which it occurs. Do the following: 1. Calculate the manufacturing cost per unit. (Round manufacturing cost to 2 decimal places, e.g. 15.25.) 2. Prepare a normal-absorption-costing income statement for the first month of operation. PharoahProducts Income Statement-Normal-Absorption Costingg For the first month of operations
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