Please do not give solution in image format thanku Haitek Bhd manufactures and sells home-freezer and uses standard costing. Actual data relating toMarch, April and May 2021 are as follows:MonthMarchAprilMay(a)Beginning ProductionInventory0600600Other related actual data:3,0002,6003,300Manufacturing cost per unit producedMarketing cost per unit sold .....REQUIRED:Sales2,4002,6003,450Fixed Manufacturing costs per month .....Fixed Operating & marketing costs per month....Selling price per unit........$550$200The budgeted level of production used to calculate the predetermined fixed manufacturing costper unit is 3,000 units. Any under/over applied fixed manufacturing cost due to change inproduction volume is charged to the cost of goods sold of the month it occurs. Assume there isno other variances related to fixed manufacturing.$320,000$95,000$1,700Prepare income statements for Haitek in March, April and May 2021 under(i) variable costing(ii)absorption costing

S.NoMarginal CostingAbsorption Costing1As the name suggest itself variable cost is considered in…

Haitek Bhd manufactures and sells home-freezer and uses standard costing. Actual data relating to March, April and May 2021 are as follows: Production Month March April May Beginning Inventory 0 Other related actual data: 600 600 Manufacturing cost per unit produced. Marketing cost per unit sold........ REQUIRED: 3,000 2,600 3,300 (i) (ii) Sales 2,400 2,600 3,450 Fixed Manufacturing costs per month $320,000 Fixed Operating & marketing costs per month.... $95,000 Selling price per unit.......... $1,700 $550 $200 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. (a) Prepare income statements for Haitek in March, April and May 2021 under variable costing 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: Production Month March April May Beginning Inventory 0 Other related actual data: 600 600 Manufacturing cost per unit produced. Marketing cost per unit sold........ REQUIRED: 3,000 2,600 3,300 (i) (ii) Sales 2,400 2,600 3,450 Fixed Manufacturing costs per month $320,000 Fixed Operating & marketing costs per month.... $95,000 Selling price per unit.......... $1,700 $550 $200 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. (a) Prepare income statements for Haitek in March, April and May 2021 under variable costing absorption costing

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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