Crane Company sells its product for $11100 per unit. Variable costs per unit are: manufacturing, $5600; and selling and administrative, $125. Fixed costs are: $45000 manufacturing overhead, and $55000 selling and administrative. There was no beginning inventory at 1/1/20. Production was 30 units per year in 2020-2022. Sales were 30 units in 2020, 26 units in 2021, and 34 units in 2022. Income under variable costing for 2021 is $49000. $45750. $39750. $85500.
Crane Company sells its product for $11100 per unit. Variable costs per unit are: manufacturing, $5600; and selling and administrative, $125. Fixed costs are: $45000 manufacturing overhead, and $55000 selling and administrative. There was no beginning inventory at 1/1/20. Production was 30 units per year in 2020-2022. Sales were 30 units in 2020, 26 units in 2021, and 34 units in 2022. Income under variable costing for 2021 is $49000. $45750. $39750. $85500.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Please do not give solution in image format thanku
Transcribed Image Text:Crane Company sells its product for $11100 per
unit. Variable costs per unit are: manufacturing,
$5600; and selling and administrative, $125.
Fixed costs are: $45000 manufacturing
overhead, and $55000 selling and
administrative. There was no beginning
inventory at 1/1/20. Production was 30 units per
year in 2020-2022. Sales were 30 units in 2020,
26 units in 2021, and 34 units in 2022. Income
under variable costing for 2021 is
$49000.
$45750.
$39750.
$85500.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education