Please do not give solution in image format thanku Discon Corporation manufactures a popular doll called Teardrops. Last year the companystarted with 10,100 dolls, produced 210,000 dolls, and ended the year with 8,100 dolls.Each doll was sold for $22. The actual unit cost for Teardrops is given below:Direct material $ 2.10Direct labourvariableoverheadFixed overheadTotal unit cost0.402.606.90$ 12.00The only selling expenses were a commission of $3 per unit sold and advertising amountingto $351,000. Administrative expenses, all fixed, equaled $271,000. There were no beginning.and ending work-in-process inventories.Required1. Prepare an income statement.2. Calculate the following per unit costs.a. Prime Costb. Conversion Costc. Variable cost

Prime cost is the sum total of direct material, direct labor and direct expenses.Conversion cost is…

Discon Corporation manufactures a popular doll called Teardrops. Last year the company started with 10,100 dolls, produced 210,000 dolls, and ended the year with 8,100 dolls. Each doll was sold for $22. The actual unit cost for Teardrops is given below: Direct material Direct labour variable overhead Fixed overhead Total unit cost $ 2.10 0.40 2.60 6.90 $ 12.00 The only selling expenses were a commission of $3 per unit sold and advertising amounting to $351,000. Administrative expenses, all fixed, equaled $271,000. There were no beginning and ending work-in-process inventories. Required 1. Prepare an income statement. 2. Calculate the following per unit costs. a. Prime Cost b. Conversion Cost c. Variable cost

Discon Corporation manufactures a popular doll called Teardrops. Last year the company started with 10,100 dolls, produced 210,000 dolls, and ended the year with 8,100 dolls. Each doll was sold for $22. The actual unit cost for Teardrops is given below: Direct material Direct labour variable overhead Fixed overhead Total unit cost $ 2.10 0.40 2.60 6.90 $ 12.00 The only selling expenses were a commission of $3 per unit sold and advertising amounting to $351,000. Administrative expenses, all fixed, equaled $271,000. There were no beginning and ending work-in-process inventories. Required 1. Prepare an income statement. 2. Calculate the following per unit costs. a. Prime Cost b. Conversion Cost c. Variable cost

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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