Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. variable costs per unit: manufacturing: direct mat

Variable costs per unit: Manufacturing: Direct materials Direct labor $12 $4 ...

50.1K

Verified Solution

Question

Accounting

Variable costs per unit:
Manufacturing:
Direct materials
Direct labor
$12
$4
$2
$2
$370,000
$200,000
Variable selling and administrative
Fixed costs per year:
Fixed manufacturing overhead
Fixed selling and administrative
$12
$4
$2
$2
$370,000
$200,000
During the year, the company produced 37,000 units and sold 18,000 units. The selling price of the company's product is $55 per unit.
Required:
Assume the company uses absorption costing:
a. Compute the unit product cost.
b. Prepare an income statement for the year.
Assume the company uses variable costing:
a. Compute the unit product cost.
b. Prepare an income statement for the year.
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Physics
1.2K views

Let us consider what happens in the case of Si or Ge crystal containing Natoms...

Civil Engineering
1.2K views

A rectangular cross section beam (A) made of steel constructed in an industrial building between two columns...

Chemistry
1.2K views

(5) Chloroacetic acid, HC2H2ClO2, has a greater acid strength than acetic acid because the electronegative chlorine atom pulls...

Biology
1.2K views

Which of the following characteristics listed below do all fungi have in common?absorption of nutrients...

Basic Math
1.2K views

Express the following number in decimal notation 3 5x107 3 5 10

Statistics
1.2K views

Consider the following data representing the daily calorie intake for dieters 1364 1458 1214 1270...

Algebra
1.2K views

Destiny performs a hypothesis test on a population with 115 and o 30 Her sample...

Algebra
1.2K views

1 Suzette ran and biked for a total of 44 75 mi in 4 h...

Accounting
1.2K views

Perine Company has...

Accounting
1.2K views

The Regal Cycle Company manufactures three types of bicycles-a dirt bike. a mountain...

Accounting
1.2K views

Question 29 4 pts All of the following accounts for a merchandiser are closed EXCEPT...

Finance
1.2K views

What is the impact to remaining shareholders if a firm with 200,000 shares, a stock...