Duffy Dog BBQ produces stainless steel propane gas grills. The company has been in operation for three years, and sales have declined each year due to increased competition. The following information is available: 2020 2021 2022 Total Units sold 27,360 24,460 25,700 77,520 Units produced 27,360 27,360 22,800 77,520 Fixed production costs $ 27,360,000 $ 27,360,000 $ 27,360,000 Variable production costs per unit $ 1,000 $ 1,000 $ 1,000 Selling price per unit $ 2,500 $ 2,500 $ 2,500 Fixed selling and administrative expense $ 3,200,000 $ 3,200,000 $ 3,200,000 Part 1 Calculate profit and the value of ending inventory for each year under full costing. (Round cost per unit and final answer to 0 decimal places, e.g. 15.) 2020 2021 2022 Net profit $ enter a dollar amount rounded to 0 decimal places $ enter a dollar amount rounded to 0 decimal places $ enter a dollar amount rounded to 0 decimal places Ending inventory $ enter a dollar amount rounded to 0 decimal places $ enter a dollar amount rounded to 0 decimal places $ enter a dollar amount rounded to 0 decimal places Part 2 Calculate profit and the value of ending inventory for each year under variable costing. 2020 2021 2022 Net profit $ enter a dollar amount $ enter a dollar amount $ enter a dollar amount Ending inventory $ enter a dollar amount $ enter a dollar amount $ enter a dollar amount
Duffy Dog BBQ produces stainless steel propane gas grills. The company has been in operation for three years, and sales have declined each year due to increased competition. The following information is available: 2020 2021 2022 Total Units sold 27,360 24,460 25,700 77,520 Units produced 27,360 27,360 22,800 77,520 Fixed production costs $ 27,360,000 $ 27,360,000 $ 27,360,000 Variable production costs per unit $ 1,000 $ 1,000 $ 1,000 Selling price per unit $ 2,500 $ 2,500 $ 2,500 Fixed selling and administrative expense $ 3,200,000 $ 3,200,000 $ 3,200,000
Part 1 Calculate profit and the value of ending inventory for each year under full costing. (Round cost per unit and final answer to 0 decimal places, e.g. 15.) 2020 2021 2022 Net profit $ enter a dollar amount rounded to 0 decimal places $ enter a dollar amount rounded to 0 decimal places $ enter a dollar amount rounded to 0 decimal places Ending inventory $ enter a dollar amount rounded to 0 decimal places $ enter a dollar amount rounded to 0 decimal places $ enter a dollar amount rounded to 0 decimal places
Part 2 Calculate profit and the value of ending inventory for each year under variable costing. 2020 2021 2022 Net profit $ enter a dollar amount $ enter a dollar amount $ enter a dollar amount Ending inventory $ enter a dollar amount $ enter a dollar amount $ enter a dollar amount
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