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  3. the following information pertains to the first ye

The following information pertains to the first year of operation for Crystal Cold Coolers Inc...

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Accounting

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The following information pertains to the first year of operation for Crystal Cold Coolers Inc Number of units produced Number of units sold Unit sales price Direct materials per unit Direct labor per unit Variable manufacturing overhead per unit Fixed manufacturing Total variable selling expenses ($13 per unit sold) Total fixed general and administrative expenses 3,000 2,500 $ 355 12 overhead per unit ($240,000/3,000 units) 32,500 56,000 Required Prepare Crystal Cold's full absorption costing income statement and variable costing income statement for the year. (Do not leave any numerio oells blank, enter a zero wherever required.) CRYSTAL COLD COOLERS INC. Full Absorption Costing Income Statement $ 887,500 Less: Cost of Goods Sold Cost of Goods Manufactured Cost of Goods Available for Sale Ending Inventory Cost of Goods Sold Gross Margin Less: Non-Manufacturing Expenses 357,500 Fixed General and Administrative Expenses 56,000 Variable Selling Expense 32,500 Net Operating Income $ 269,000

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