ck Wagon Grills, Incorporated, makes a single product-a handmade specialty barbecue grill that it sel 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 22,000 20,000 2,000 $ 50 80 20 10 $ 160 $ 770,000 300,000 $ 1,070,000 red: me that the company uses absorption costing. Compute the unit product cost for one barbecue grill. ume that the company uses absorption costing. Prepare an income statement for last year.
ck Wagon Grills, Incorporated, makes a single product-a handmade specialty barbecue grill that it sel 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 22,000 20,000 2,000 $ 50 80 20 10 $ 160 $ 770,000 300,000 $ 1,070,000 red: me that the company uses absorption costing. Compute the unit product cost for one barbecue grill. ume that the company uses absorption costing. Prepare an income statement for last year.
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
22,000
20,000
2,000
Required 1 Required 2
Required:
1. Assume that the company uses absorption costing. Compute the unit product cost for one barbecue grill.
2. Assume that the company uses absorption costing. Prepare an income statement for last year.
Complete this question by entering your answers the tabs below.
$50
80
20
10
$ 160
$ 770,000
300,000
$ 1,070,000
Unit product cost
Assume that the company uses absorption costing. Compute the unit product cost for one barbecue grill.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fee124333-d847-425e-be04-fc96a865d87e%2F46493da1-3acd-418b-8693-ee45a65a5d00%2F1vlr35q_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
22,000
20,000
2,000
Required 1 Required 2
Required:
1. Assume that the company uses absorption costing. Compute the unit product cost for one barbecue grill.
2. Assume that the company uses absorption costing. Prepare an income statement for last year.
Complete this question by entering your answers the tabs below.
$50
80
20
10
$ 160
$ 770,000
300,000
$ 1,070,000
Unit product cost
Assume that the company uses absorption costing. Compute the unit product cost for one barbecue grill.
Transcribed Image Text:2
Chuck Wagon Grills, Incorporated, makes a single product-a handmade specialty barbecue grill that it sells for
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
Required 1
Required 2
Required:
1. Assume that the company uses absorption costing. Compute the unit product cost for one barbecue grill.
2. Assume that the company uses absorption costing. Prepare an income statement for last year.
Complete this question by entering your answers in the tabs below.
Net operating income(loss)
$
22,000
20,000
2,000
0
$50
80
20
10
$160
Assume that the company uses absorption costing. Prepare an income statement for last year.
Chuck Wagon Grills, Incorporated
Absorption Costing Income Statement
0
$ 770,000
300,000
$ 1,070,000
< Required 1
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