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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.

FINANCIAL ACCOUNTING
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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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.
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.
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