Chuck Wagon Grills, Incorporated, makes a single product-a handmade specialty barbecue grill that it sells for $210. for last year's operations follow Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor. Variable manufacturing overhead 0 22,400 20,200 2,200 $ 50 80 20
Chuck Wagon Grills, Incorporated, makes a single product-a handmade specialty barbecue grill that it sells for $210. for last year's operations follow Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor. Variable manufacturing overhead 0 22,400 20,200 2,200 $ 50 80 20
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Required information
[The following information applies to the questions displayed below]
Chuck Wagon Grills, Incorporated, makes a single product-a handmade specialty barbecue grill that it sells for $210. Data
for last year's operations follow
Units in beginning inventory
Units produced
Units sold.
Units in ending inventory
Variable costs per unit:
Direct materials.
Direct labor
Variable manufacturing overhead
Variable selling and administrative
Total variable cost per unit
Fixed costs:
Fixed manufacturing overhead
Fixed selling and administrative
Total fixed costs
0
22,400
20,200
2,200
$ 50
80
20
10
$ 160
$ 784,000
303,000
$ 1,087,000
Required:
1. Assume that the company uses variable costing Compute the unit product cost for one barbecue grill
2. Assume that the company uses variable costing. Prepare a contribution format income statement for last year
3. What is the company's break-even point in terms of the number of barbecue grills sold?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa880cc3d-71b2-44bc-9eb8-ccb18aa2c0ed%2F07a51a56-8356-4507-9b5a-62e70bee92f1%2Foloir12_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
[The following information applies to the questions displayed below]
Chuck Wagon Grills, Incorporated, makes a single product-a handmade specialty barbecue grill that it sells for $210. Data
for last year's operations follow
Units in beginning inventory
Units produced
Units sold.
Units in ending inventory
Variable costs per unit:
Direct materials.
Direct labor
Variable manufacturing overhead
Variable selling and administrative
Total variable cost per unit
Fixed costs:
Fixed manufacturing overhead
Fixed selling and administrative
Total fixed costs
0
22,400
20,200
2,200
$ 50
80
20
10
$ 160
$ 784,000
303,000
$ 1,087,000
Required:
1. Assume that the company uses variable costing Compute the unit product cost for one barbecue grill
2. Assume that the company uses variable costing. Prepare a contribution format income statement for last year
3. What is the company's break-even point in terms of the number of barbecue grills sold?
Transcribed Image Text:Required 1 Required 2 Required 3
Assume that the company uses variable costing. Compute the unit product cost for one barbecue grill.
Unit product cost
Required 1 Required 2
Required 3
<Required 1
Assume that the company uses variable costing. Prepare a contribution format income statement for last year.
Chuck Wagon Grills, Incorporated
Variable Costing Income Statement
Required 1 Required 2 Required 3
< Required 1
Required 2 >
Complete this question by entering your answers in the tabs below.
Required 3 >
< Required 2
What is the company's break-even point in terms of the number of barbecue grills sold?
Break-even point
units
Requined 3>
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- Assume the company uses absorption costing. Compute the unit product cost for one barbecue grill.
- Assume the company uses absorption costing. Prepare an income statement for last year.
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