Bridgeport's Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2022, the company incurred the following costs: Variable cost per unit Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative expenses Fixed costs for year Fixed manufacturing overhead Fixed selling and administrative expenses $6.40 2.72 5.76 3.90 $284,214 241,400 Bridgeport's Company sells the fishing lures for $25.00. During 2022, the company produced 94,600 lures and sold 78,400.
Bridgeport's Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2022, the company incurred the following costs: Variable cost per unit Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative expenses Fixed costs for year Fixed manufacturing overhead Fixed selling and administrative expenses $6.40 2.72 5.76 3.90 $284,214 241,400 Bridgeport's Company sells the fishing lures for $25.00. During 2022, the company produced 94,600 lures and sold 78,400.
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![Current Attempt in Progress
Bridgeport's Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2022, the company incurred
the following costs:
Variable cost per unit
Direct materials
Direct labour
Variable manufacturing overhead
Variable selling and administrative expenses
Fixed costs for year
Fixed manufacturing overhead
Fixed selling and administrative expenses
$6.40
(a)
2.72
5.76
3.90
$284,214
241,400
Bridgeport's Company sells the fishing lures for $25.00. During 2022, the company produced 94,600 lures and sold 78,400.
Assume the company uses normal-absorption costing and uses the budgeted volume of 93,800 units to allocate the fixed
overhead rate rather than the actual production volume of 94,600 units. The company expenses production volume variance to](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F77b312da-d2ed-4179-a84e-623485f1f533%2F8750878e-b2ba-4280-b419-0bd7765a3541%2F8ipms9b_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Current Attempt in Progress
Bridgeport's Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2022, the company incurred
the following costs:
Variable cost per unit
Direct materials
Direct labour
Variable manufacturing overhead
Variable selling and administrative expenses
Fixed costs for year
Fixed manufacturing overhead
Fixed selling and administrative expenses
$6.40
(a)
2.72
5.76
3.90
$284,214
241,400
Bridgeport's Company sells the fishing lures for $25.00. During 2022, the company produced 94,600 lures and sold 78,400.
Assume the company uses normal-absorption costing and uses the budgeted volume of 93,800 units to allocate the fixed
overhead rate rather than the actual production volume of 94,600 units. The company expenses production volume variance to
![A
(a)
Assume the company uses normal-absorption costing and uses the budgeted volume of 93,800 units to allocate the fixed
overhead rate rather than the actual production volume of 94,600 units. The company expenses production volume variance to
cost of goods sold in the accounting period in which it occurs. Do the following:
1. Calculate the manufacturing cost per unit. (Round per unit calculations and final answer to 2 decimal places, e.g. 15.25.)
Manufacturing cost $
2. Prepare a normal-absorption-costing income statement for 2022. (Round per unit calculations to 2 decimal places, e.g. 15.25 and
final answers to O decimal places, e.g. 125.)
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BRIDGEPORT'S COMPANY
Income Statement-Normal-Absorption Costing
Attempts: 0 of 2 used
70.5 =
Submit Answer](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F77b312da-d2ed-4179-a84e-623485f1f533%2F8750878e-b2ba-4280-b419-0bd7765a3541%2F8zv157m_processed.jpeg&w=3840&q=75)
Transcribed Image Text:A
(a)
Assume the company uses normal-absorption costing and uses the budgeted volume of 93,800 units to allocate the fixed
overhead rate rather than the actual production volume of 94,600 units. The company expenses production volume variance to
cost of goods sold in the accounting period in which it occurs. Do the following:
1. Calculate the manufacturing cost per unit. (Round per unit calculations and final answer to 2 decimal places, e.g. 15.25.)
Manufacturing cost $
2. Prepare a normal-absorption-costing income statement for 2022. (Round per unit calculations to 2 decimal places, e.g. 15.25 and
final answers to O decimal places, e.g. 125.)
eTextbook and Media
per unit
Save for Later
BRIDGEPORT'S COMPANY
Income Statement-Normal-Absorption Costing
Attempts: 0 of 2 used
70.5 =
Submit Answer
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