Haitek Bhd manufactures and sells home-freezer and uses standard costing. Actual data relating to March, April and May 2021 are as follows: Month (a) March April May (b) Beginning Production Inventory 0 600 600 Other related actual data: REQUIRED: 3,000 2,600 3,300 Manufacturing cost per unit produced Marketing cost per unit sold ...... Sales 2,400 2,600 3,450 Fixed Manufacturing costs per month. Fixed Operating & marketing costs per month. Selling price per unit....... The budgeted level of production used to calculate the predetermined fixed manufacturing cost per unit is 3,000 units. Any under/over applied fixed manufacturing cost due to change in production volume is charged to the cost of goods sold of the month it occurs. Assume there is no other variances related to fixed manufacturing. $550 $200 $320,000 $95,000 $1,700 Prepare income statements for Haitek in March, April and May 2021 under (i) variable costing absorption costing Explain the difference in operating income for March, April and May under variable costing and absorption costing.

Haitek Bhd manufactures and sells home-freezer and uses standard costing. Actual data relating to March, April and May 2021 are as follows: Month (a) March April May (b) Beginning Production Inventory 0 600 600 Other related actual data: REQUIRED: 3,000 2,600 3,300 Manufacturing cost per unit produced Marketing cost per unit sold ...... Sales 2,400 2,600 3,450 Fixed Manufacturing costs per month. Fixed Operating & marketing costs per month. Selling price per unit....... The budgeted level of production used to calculate the predetermined fixed manufacturing cost per unit is 3,000 units. Any under/over applied fixed manufacturing cost due to change in production volume is charged to the cost of goods sold of the month it occurs. Assume there is no other variances related to fixed manufacturing. $550 $200 $320,000 $95,000 $1,700 Prepare income statements for Haitek in March, April and May 2021 under (i) variable costing absorption costing Explain the difference in operating income for March, April and May under variable costing and absorption costing.

Name: Haitek Bhd manufactures and sells home-freezer and uses standard cost
Uploaded: 2024-03-20T06:32:49.000Z
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Description: Haitek Bhd manufactures and sells home-freezer and uses standard costing. Actual data relating toMarch, April and May 2021 are as follows:Month(a)MarchAprilMay(b)Beginning ProductionInventory0600600Other related actual data:REQUIRED:3,0002,6003,300M

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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