please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image) Laura Hall, CEO of Wildhorse industries, is concerned about the recent volatility in the company's operating income. She believes thatsince the number of units sold has been fairly stable over the past three years that operating income also should have been stable.Laura asked Kevin Allen, Wildhorse's inventory manager, to help her understand the issue.Kevin reviewed the company's records and compiled the following changes to Finished Goods Inventory (in units) for the years 2019,2020, and 2021.Beginning inventoryProductionSalesEnding Inventory20191,00040,000(39,000)2,000Year20202,00038,000(39,500)Cost of goods soldUnits in beginning inventoryUnits sold from current year productionTotal cost of roods sold500202150040,000(39,500)1,000Kevin also gathered the 2019 Income statements prepared using absorption costing and variable costing, which follow.Income Statement-Absorption Costing.Sales$ 5,655,000(93,000)(3,534,000)13.627.0001 Total cost of goods soldGross marginSelling expenseOperating IncomeIncome Statement-Variable CostingSalesVariable production expensesVariable selling expensesContribution marginFixed manufacturing expensesFixed selling expensesOperating income(a)Compute the unit product cost for 2019, 2020, and 2021 for variable and absorption costing. Assume that variable costs per unitand total fixed costs do not change from one year to the next. (Round answers to 2 decimal places, eg 15.25)Unit product cost usingvariable costingCompute the unit product cost for 2019, 2020, and 2021 for variable and absorption costing. Assume that variable costs per unitand total fixed costs do not change from one year to the next. (Round answers to 2 decimal places, e.g. 15.25.)Unit product cost usingabsorption costing(3,627,000)2,028,000(630,000)$ 1,398,000eTextbook and Media5,655,000(2,145,000)(273,000)3,237,000(1.520,000)(357,000)1.360,000Save for Later20192020Attempts: 0 of 3 used2021Submit Answer

The unit product cost is calculated as total cost divided by number of units produced. Using…

Compute the unit product cost for 2019, 2020, and 2021 for variable and absorption costing. Assume that variable costs per unit and total fixed costs do not change from one year to the next. (Round answers to 2 decimal places, eg. 15.25) Unit product cost using variable costing Unit product cost using absorption costing 2019 2020 2021

Compute the unit product cost for 2019, 2020, and 2021 for variable and absorption costing. Assume that variable costs per unit and total fixed costs do not change from one year to the next. (Round answers to 2 decimal places, eg. 15.25) Unit product cost using variable costing Unit product cost using absorption costing 2019 2020 2021

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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