Appliance Apps nas the following costs associated with production and sale of devices that allow appliances to receive commands from cell phones. Beginning inventory Units produced Units sold 25,000 20,000 145 Selling price per unit Variable sales and administration expenses Fixed sales and administration expenses Direct material cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead cost per month 5 $975,000 25 $ 11 $ 3 $980,000 Prepare an income statement under both the absorption and variable costing methods along with a reconciliation between the two statements

Appliance Apps nas the following costs associated with production and sale of devices that allow appliances to receive commands from cell phones. Beginning inventory Units produced Units sold 25,000 20,000 145 Selling price per unit Variable sales and administration expenses Fixed sales and administration expenses Direct material cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead cost per month 5 $975,000 25 $ 11 $ 3 $980,000 Prepare an income statement under both the absorption and variable costing methods along with a reconciliation between the two statements

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Appliance Apps has the following costs associated with its production and sale of devices that allow appliances to receive commands from cell phones. Beginning Inventory 0Units Produced 24,000Units Sold 19,200Selling Price per Unit $146Variable Sales and Administration Expenses $4Fixed Sales and Administration Expenses $936,000Direct Material Cost per Unit $26Direct Labor Cost per Unit $10Variable Manufacturing Overhead Cost per Unit $2Fixed Manufacturing Overhead Cost per Month $938,400 -Prepare an income statement under the absorption method. If an amount box does not require an entry, leave it blank. -Prepare an income statement under the variable costing method. If an amount box does not require an entry, leave it blank. -Prepare a reconciliation between the two statements.
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Appliance Apps has the following costs associated with its production and sale of devices that allow appliances to receive commands from cell phones. Beginning Inventory 0 Units Produced 25,000 Units Sold 20,000 Selling Price per Unit $146 Variable Sales and Administration Expenses $4 Fixed Sales and Administration Expenses $975,000 Direct Material Cost per Unit $26 Direct Labor Cost per Unit $11 Variable Manufacturing Overhead Cost per Unit $3 Fixed Manufacturing Overhead Cost per Month $977,500 Prepare an income statement under the absorption method. If an amount box does not require an entry, leave it blank. Appliance Apps has the following costs associated with its production and sale of devices that allow appliances to receive commands from cell phones. Beginning Inventory 0 Units Produced 25,000 Units Sold 20,000 Selling Price per Unit $146 Variable Sales and Administration Expenses $4 Fixed Sales and Administration Expenses $975,000…
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Please do not give solution in image format thanku
SEARCH ASK CHAT MATH SOLVER Question Diego Company manufactures one product that is sold for $77 per unit in two geographic regions—the East and West regions. The following information pertains to the company’s first year of operations in which it produced 59,000 units and sold 54,000 units. Variable costs per unit: Manufacturing: Direct materials $ 27 Direct labor $ 10 Variable manufacturing overhead $ 2 Variable selling and administrative $ 3 Fixed costs per year: Fixed manufacturing overhead $ 1,298,000 Fixed selling and administrative expense $ 662,000 The company sold 41,000 units in the East region and 13,000 units in the West region. It determined that $330,000 of its fixed selling and administrative expense is traceable to the West region, $280,000 is traceable to the East region, and the remaining $52,000 is a common fixed expense. The company will continue to incur the total amount of its fixed manufacturing…
Please do not give solution in image format thanku
Please do not give solution in image format thanku
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