4 Lukin Corporation reports the following first year production cost information: Units produced Units sold Sales price Direct labor Direct materials Variable overhead Fixed overhead Operating expenses 62,000 units 59,000 units $350 per unit $41 per unit $15 per unit $150 per unit $4,340,000 in total $1,000,000 Using an excel compute the following: a. Compute production cost per unit under variable costing. b. Compute production cost per unit under absorption costing. c. Prepare an Income Statement using Variable Costing d. Prepare an Income Statement using absorption costing.
4 Lukin Corporation reports the following first year production cost information: Units produced Units sold Sales price Direct labor Direct materials Variable overhead Fixed overhead Operating expenses 62,000 units 59,000 units $350 per unit $41 per unit $15 per unit $150 per unit $4,340,000 in total $1,000,000 Using an excel compute the following: a. Compute production cost per unit under variable costing. b. Compute production cost per unit under absorption costing. c. Prepare an Income Statement using Variable Costing d. Prepare an Income Statement using absorption costing.
Cornerstones of Cost Management (Cornerstones Series)
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Chapter2: Basic Cost Management Concepts
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Problem 22E: Ellerson Company provided the following information for the last calendar year: During the year,...
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please answer only part d
![Problem 1-Income Staterment
4 Lukin Corporation reports the following first year production cost
information:
Units produced
Units sold
Sales price
Direct labor
Direct materials
Variable overhead
Fixed overhead
Operating expenses
62,000 units
59,000 units
$350 per unit
$41 per unit
$15 per unit
$150 per unit
$4,340,000 in total
$1,000,000
Using an excel compute the following:
a. Compute production cost per unit under variable costing.
b. Compute production cost per unit under absorption costing.
c. Prepare an Income Statement using Variable Costing
d. Prepare an Income Statement using absorption costing.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F926b5e8c-3515-4f7f-9eb3-2b6de3531274%2Facff3c17-46e9-46eb-b520-fd5cd7b947cc%2F7iiivx8_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Problem 1-Income Staterment
4 Lukin Corporation reports the following first year production cost
information:
Units produced
Units sold
Sales price
Direct labor
Direct materials
Variable overhead
Fixed overhead
Operating expenses
62,000 units
59,000 units
$350 per unit
$41 per unit
$15 per unit
$150 per unit
$4,340,000 in total
$1,000,000
Using an excel compute the following:
a. Compute production cost per unit under variable costing.
b. Compute production cost per unit under absorption costing.
c. Prepare an Income Statement using Variable Costing
d. Prepare an Income Statement using absorption costing.
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