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Aspen Inc has the following information for its first year of operat Units produced Units sold Unit sales price Direct material per unit Direct labor per unit Variable manufacturing overhead per unit Fixed manufacturing overhead Variable selling expenses Fixed selling and administrative expenses 3,730 3,730 $204.00 $48.00 $28.00 $ 24.00 $82,060 $ 15.00 $66,100

Aspen Inc has the following information for its first year of operat Units produced Units sold Unit sales price Direct material per unit Direct labor per unit Variable manufacturing overhead per unit Fixed manufacturing overhead Variable selling expenses Fixed selling and administrative expenses 3,730 3,730 $204.00 $48.00 $28.00 $ 24.00 $82,060 $ 15.00 $66,100

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Aspen Inc has the following information for its first year of operations: Units produced Units sold Unit sales price Direct material per unit Direct labor per unit Variable manufacturing overhead per unit Fixed manufacturing overhead Variable selling expenses Fixed selling and administrative expenses 3,730 3,730 $204.00 $48.00 $28.00 $24.00 $82,060 $15.00 $66,100 a. Prepare Aspen's full absorption costing income statement. (Do not round your intermediate calculations. Round your answers to nearest dollar amounts.) Absorption Costing Income Statement b. Prepare Aspen's variable costing income statement. (Round your answers to nearest dollar amounts.) Variable Costing Income Statement
Transcribed Image Text:Aspen Inc has the following information for its first year of operations: Units produced Units sold Unit sales price Direct material per unit Direct labor per unit Variable manufacturing overhead per unit Fixed manufacturing overhead Variable selling expenses Fixed selling and administrative expenses 3,730 3,730 $204.00 $48.00 $28.00 $24.00 $82,060 $15.00 $66,100 a. Prepare Aspen's full absorption costing income statement. (Do not round your intermediate calculations. Round your answers to nearest dollar amounts.) Absorption Costing Income Statement b. Prepare Aspen's variable costing income statement. (Round your answers to nearest dollar amounts.) Variable Costing Income Statement
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