Fourth Question: The following information from PETRA-2 factory in 2020: 3200 1800 2400 1400 400 450 15500 0 800 Direct Materials Variable manufacturing cost Direct Labor Fixed manufacturing cost Variable marketing cost Fixed marketing cost Sales@ $20per unit Beg. Inventory in units Production in units Compute: 1. manufacturing costs under absorption, variable, and throughput costing systems per unit. 2. period costs under absorption, variable, and throughput costing systems per unit. 3. Prepare income statement under absorption and variable costing system.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Question
Please do not give solution in image format thanku
Fourth Question:
The following information from PETRA-2 factory in 2020:
3200
1800
2400
1400
400
450
Direct Materials
Variable manufacturing cost
Direct Labor
Fixed manufacturing cost
Variable marketing cost
Fixed marketing cost
Sales @ $20per unit
Beg. Inventory in units
Production in units
15500
0
800
Compute:
1. manufacturing costs under absorption, variable, and throughput costing
systems per unit.
2. period costs under absorption, variable, and throughput costing systems
per unit.
3. Prepare income statement under absorption and variable costing system.
Transcribed Image Text:Fourth Question: The following information from PETRA-2 factory in 2020: 3200 1800 2400 1400 400 450 Direct Materials Variable manufacturing cost Direct Labor Fixed manufacturing cost Variable marketing cost Fixed marketing cost Sales @ $20per unit Beg. Inventory in units Production in units 15500 0 800 Compute: 1. manufacturing costs under absorption, variable, and throughput costing systems per unit. 2. period costs under absorption, variable, and throughput costing systems per unit. 3. Prepare income statement under absorption and variable costing system.
Expert Solution
steps

Step by step

Solved in 5 steps

Blurred answer
Knowledge Booster
Cost classification
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education