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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 21,600 19,800 1,800 $ 50 80 20 10 $ 160 $ 756,000 297,000 $ 1,053,000 ercise 7-14 (Algo) Variable Costing Unit Product Cost and Income Statement; Break-Even Analysis -7-1, L07-2] uired: ssume that the company uses variable costing. Compute the unit product cost for one barbecue grill. ssume that the company uses variable costing. Prepare a contribution format income statement for last year. What is the company's break-even point in terms of the number of barbecue grills sold?

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 21,600 19,800 1,800 $ 50 80 20 10 $ 160 $ 756,000 297,000 $ 1,053,000 ercise 7-14 (Algo) Variable Costing Unit Product Cost and Income Statement; Break-Even Analysis -7-1, L07-2] uired: ssume that the company uses variable costing. Compute the unit product cost for one barbecue grill. ssume that the company uses variable costing. Prepare a contribution format income statement for last year. What is the company's break-even point in terms of the number of barbecue grills sold?

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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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 21,600 19,800 1,800 $ 50 80 20 10 $ 160 $ 756,000 297,000 $ 1,053,000 Exercise 7-14 (Algo) Variable Costing Unit Product Cost and Income Statement; Break-Even Analysis [LO7-1, L07-2] 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: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 21,600 19,800 1,800 $ 50 80 20 10 $ 160 $ 756,000 297,000 $ 1,053,000 Exercise 7-14 (Algo) Variable Costing Unit Product Cost and Income Statement; Break-Even Analysis [LO7-1, L07-2] 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?
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