Gamelan a musical instrument per unit $910 Units in beginning inventory: Units produced 300 Units sold 270 Units in ending inventory 30 Variable cost per unit: Direct material $140 Direct labor $350 Variable manufacturer overhead $35 Variable selling and Administrative $15 Fixed cost: Fixed Administrative overhead $69000 Fixed Selling Administrative $26000 The absorption costing income statement prepared by the company accountant for last year below: SALES $245,700 Cost of goods sold $203,850 Gross margin $41,850 Selling/Administrative expense $30,050 Net operating income $11,8000 Under absorption cost, how many fixed manufacturing costs included in the company's inventory at the end of last year? Prepare an income statement for the last year using variable cost? Thank you,
Gamelan a musical instrument per unit $910 Units in beginning inventory: Units produced 300 Units sold 270 Units in ending inventory 30 Variable cost per unit: Direct material $140 Direct labor $350 Variable manufacturer overhead $35 Variable selling and Administrative $15 Fixed cost: Fixed Administrative overhead $69000 Fixed Selling Administrative $26000 The absorption costing income statement prepared by the company accountant for last year below: SALES $245,700 Cost of goods sold $203,850 Gross margin $41,850 Selling/Administrative expense $30,050 Net operating income $11,8000 Under absorption cost, how many fixed manufacturing costs included in the company's inventory at the end of last year? Prepare an income statement for the last year using variable cost? Thank you,
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Gamelan a musical instrument per unit $910
|
Units in beginning inventory: |
|
Units produced 300 |
|
Units sold 270 |
|
Units in ending inventory 30 |
|
Variable cost per unit: |
|
Direct material $140 |
|
Direct labor $350 |
|
Variable manufacturer |
|
Variable selling and Administrative $15 |
|
Fixed cost: |
|
Fixed Administrative overhead $69000 |
|
Fixed Selling Administrative $26000 |
The absorption costing income statement prepared by the company accountant for last year below:
SALES $245,700
Cost of goods sold $203,850
Gross margin $41,850
Selling/Administrative expense $30,050
Net operating income $11,8000
- Under absorption cost, how many fixed
manufacturing costs included in the company's inventory at the end of last year? - Prepare an income statement for the last year using variable cost?
Thank you,
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