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Cost of Goods Manufactured, using Variable Costing and Absorption Costing On March 31, the end of the first year of operations, Bamard Inc., manufactured 2,300 units and sold 2,000 units. The following income statement was prepared, based on the variable cesting concept Barnard Inc. Variable Costing Income Statement For the Year Ended March 31, 20Y1 Sales Variable cost of goods sold Variable cost of goods manufactured Inventory, March 31- Total variable cost of goods sold Manufacturing margin Total variable selling and administrative expenses Contribution margin Fixed costs Fixed manufacturing costs Fixed selling and administrative expenses Totalfixed costs $243,000 (31,800) $110,400 36,000 $440,000 (212,000) $228,000 (52,000) $176,000 (146,400) $29,600 Operating income Determine the unit cost of goods manufactured, based on (a) the variable costing concept and (b) the absorption costing concept. Variable costing Absorption costing

Cost of Goods Manufactured, using Variable Costing and Absorption Costing On March 31, the end of the first year of operations, Bamard Inc., manufactured 2,300 units and sold 2,000 units. The following income statement was prepared, based on the variable cesting concept Barnard Inc. Variable Costing Income Statement For the Year Ended March 31, 20Y1 Sales Variable cost of goods sold Variable cost of goods manufactured Inventory, March 31- Total variable cost of goods sold Manufacturing margin Total variable selling and administrative expenses Contribution margin Fixed costs Fixed manufacturing costs Fixed selling and administrative expenses Totalfixed costs $243,000 (31,800) $110,400 36,000 $440,000 (212,000) $228,000 (52,000) $176,000 (146,400) $29,600 Operating income Determine the unit cost of goods manufactured, based on (a) the variable costing concept and (b) the absorption costing concept. Variable costing Absorption costing

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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Cost of Goods Manufactured, using Variable Costing and Absorption Couting On March 31, the end of the first year of operations, Bamard Inc., manufactured 2,300 units and sold 2,000 units. The following income statement was prepared, based on the variable cesting concept: Barnard Inc. Variable Costing Income Statement For the Year Ended March 31, 20Y1 Sales Variable cost of goods sold Variable cost of goods manufactured Inventory, March 31 Total variable cost of goods sold Manufacturing margin Total variable selling and administrative expenses Contribution margin Fixed costs $243,000 (31,800) $440,000 $110,400 36,000 (212,000) $225,000 (52,000) $176,000 Fixed manufacturing costs Fixed selling and administrative expenses Total fixed costs Operating income Determine the unit cost of goods manufactured, based on (a) the variable costing concept and (b) the absorption conting concept. Variable costing Absorption costing (146,400) $29,600
Transcribed Image Text:Cost of Goods Manufactured, using Variable Costing and Absorption Couting On March 31, the end of the first year of operations, Bamard Inc., manufactured 2,300 units and sold 2,000 units. The following income statement was prepared, based on the variable cesting concept: Barnard Inc. Variable Costing Income Statement For the Year Ended March 31, 20Y1 Sales Variable cost of goods sold Variable cost of goods manufactured Inventory, March 31 Total variable cost of goods sold Manufacturing margin Total variable selling and administrative expenses Contribution margin Fixed costs $243,000 (31,800) $440,000 $110,400 36,000 (212,000) $225,000 (52,000) $176,000 Fixed manufacturing costs Fixed selling and administrative expenses Total fixed costs Operating income Determine the unit cost of goods manufactured, based on (a) the variable costing concept and (b) the absorption conting concept. Variable costing Absorption costing (146,400) $29,600
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