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Determine the unit cost of goods manufactured, based on (a) the variable costing concept and (b) the absorption costing concept. Variable costing Absorption costing

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
Problem 1Q
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1 Sales 2 Variable cost of goods sold: 3 4 5 9 10 11 Variable cost of goods manufactured Less ending inventory Variable cost of goods sold 6 Manufacturing margin 7 Variable selling and administrative expenses 8 Contribution margin Variable Costing Income Statement For the Year Ended December 31, 2016 Frankenreiter Inc. Fixed costs: Fixed manufacturing costs Fixed selling and administrative expenses 12 Income from operations $6,720,000.00 336,000.00 $1,400,000.00 890,000.00 $11,704,000.00 6,384,000.00 $5,320,000.00 1,155,000.00 $4,165,000.00 2,290,000.00 $1,875,000.00 Determine the unit cost of goods manufactured, based on (a) the variable costing concept and (b) the absorption costing concept. Variable costing Absorption costing
Transcribed Image Text:1 Sales 2 Variable cost of goods sold: 3 4 5 9 10 11 Variable cost of goods manufactured Less ending inventory Variable cost of goods sold 6 Manufacturing margin 7 Variable selling and administrative expenses 8 Contribution margin Variable Costing Income Statement For the Year Ended December 31, 2016 Frankenreiter Inc. Fixed costs: Fixed manufacturing costs Fixed selling and administrative expenses 12 Income from operations $6,720,000.00 336,000.00 $1,400,000.00 890,000.00 $11,704,000.00 6,384,000.00 $5,320,000.00 1,155,000.00 $4,165,000.00 2,290,000.00 $1,875,000.00 Determine the unit cost of goods manufactured, based on (a) the variable costing concept and (b) the absorption costing concept. Variable costing Absorption costing
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