Bramble Manufacturing produces basketballs used for indoor and outdoor games. The company has had significant troubles over the past few years, as the number of competitors in the basketball market has increased dramatically. Recently, the company was forced to cut back production in order to reduce its rising inventory level. The following is a list of costs for the company in 2022: Variable costs per unit Rubber $2.85 Other materials—indirect 1.30 Ball makers—direct labour 5.50 Factory electricity usage 0.40 Factory water usage 0.15 Other labour—indirect 0.27 Selling and administrative expenses 0.40 Fixed costs per year Factory property taxes $129,600 Factory sewer usage 54,000 Factory electricity usage 43,200 Selling and administrative expenses 89,640 Bramble Manufacturing had an ending inventory of 91,800 basketballs in 2021. For these units, the fixed manufacturing overhead cost was $4.00 per unit and variable manufacturing costs were $9.67 per unit. In 2022, the company produced 37,800 basketballs, sold 78,300 basketballs, and had an ending inventory of 51,300 basketballs. The basketballs sold for $20.00 each. Bramble uses the FIFO method. Calculate Bramble’ manufacturing cost per unit under a variable-costing system. (Round per unit calculations and final answer to 2 decimal places, e.g. 15.25.) Manufacturing cost $enter the manufacturing cost per unit in dollars rounded to 2 decimal places per unit Prepare a variable-costing income statement for 2022. (Round per unit calculations to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 125.) BRAMBLEMANUFACTURING Variable-Costing Income Statement choose the accounting period Sales in units enter a number of units select an income statement item $enter a dollar amount select between addition and deduction :select an opening name for section one select an income statement item $enter a dollar amount select an income statement item enter a dollar amount select an income statement item enter a subtotal of the two previous amounts select an income statement item enter a dollar amount select a closing name for section one enter a total amount for section one select an income statement item enter a dollar amount enter a subtotal of the two previous amounts enter a total amount for the first part enter a dollar amount select between addition and deduction : select an opening name for section two select an income statement item enter a dollar amount select an income statement item enter a dollar amount enter a subtotal of the two previous amounts select a closing name for this statement

Bramble Manufacturing produces basketballs used for indoor and outdoor games. The company has had significant troubles over the past few years, as the number of competitors in the basketball market has increased dramatically. Recently, the company was forced to cut back production in order to reduce its rising inventory level. The following is a list of costs for the company in 2022: Variable costs per unit Rubber $2.85 Other materials—indirect 1.30 Ball makers—direct labour 5.50 Factory electricity usage 0.40 Factory water usage 0.15 Other labour—indirect 0.27 Selling and administrative expenses 0.40 Fixed costs per year Factory property taxes $129,600 Factory sewer usage 54,000 Factory electricity usage 43,200 Selling and administrative expenses 89,640 Bramble Manufacturing had an ending inventory of 91,800 basketballs in 2021. For these units, the fixed manufacturing overhead cost was $4.00 per unit and variable manufacturing costs were $9.67 per unit. In 2022, the company produced 37,800 basketballs, sold 78,300 basketballs, and had an ending inventory of 51,300 basketballs. The basketballs sold for $20.00 each. Bramble uses the FIFO method. Calculate Bramble’ manufacturing cost per unit under a variable-costing system. (Round per unit calculations and final answer to 2 decimal places, e.g. 15.25.) Manufacturing cost $enter the manufacturing cost per unit in dollars rounded to 2 decimal places per unit Prepare a variable-costing income statement for 2022. (Round per unit calculations to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 125.) BRAMBLEMANUFACTURING Variable-Costing Income Statement choose the accounting period Sales in units enter a number of units select an income statement item $enter a dollar amount select between addition and deduction :select an opening name for section one select an income statement item $enter a dollar amount select an income statement item enter a dollar amount select an income statement item enter a subtotal of the two previous amounts select an income statement item enter a dollar amount select a closing name for section one enter a total amount for section one select an income statement item enter a dollar amount enter a subtotal of the two previous amounts enter a total amount for the first part enter a dollar amount select between addition and deduction : select an opening name for section two select an income statement item enter a dollar amount select an income statement item enter a dollar amount enter a subtotal of the two previous amounts select a closing name for this statement

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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Variable costs per unit
Rubber		$2.85
Other materials—indirect		1.30
Ball makers—direct labour		5.50
Factory electricity usage		0.40
Factory water usage		0.15
Other labour—indirect		0.27
Selling and administrative expenses		0.40
Fixed costs per year
Factory property taxes		$129,600
Factory sewer usage		54,000
Factory electricity usage		43,200
Selling and administrative expenses		89,640

Bramble Manufacturing had an ending inventory of 91,800 basketballs in 2021. For these units, the fixed manufacturing overhead cost was $4.00 per unit and variable manufacturing costs were $9.67 per unit. In 2022, the company produced 37,800 basketballs, sold 78,300 basketballs, and had an ending inventory of 51,300 basketballs. The basketballs sold for $20.00 each. Bramble uses the FIFO method.

Calculate Bramble’ manufacturing cost per unit under a variable-costing system. (Round per unit calculations and final answer to 2 decimal places, e.g. 15.25.)

Manufacturing cost

$enter the manufacturing cost per unit in dollars rounded to 2 decimal places

per unit

Prepare a variable-costing income statement for 2022. (Round per unit calculations to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 125.)

BRAMBLEMANUFACTURING Variable-Costing Income Statement choose the accounting period
Sales in units		enter a number of units
select an income statement item		$enter a dollar amount
select between addition and deduction :select an opening name for section one
select an income statement item	$enter a dollar amount
select an income statement item	enter a dollar amount
select an income statement item	enter a subtotal of the two previous amounts
select an income statement item	enter a dollar amount
select a closing name for section one	enter a total amount for section one
select an income statement item	enter a dollar amount
		enter a subtotal of the two previous amounts
enter a total amount for the first part		enter a dollar amount
select between addition and deduction : select an opening name for section two
select an income statement item	enter a dollar amount
select an income statement item	enter a dollar amount
		enter a subtotal of the two previous amounts
select a closing name for this statement		$enter a total amount for this statement

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