Please do not give solution in image format thanku kicesPrepare Crystal Cold's full absorption costing income statement for the year.Crystal Cold Coolers IncorporatedFull Absorption CostingIncome StatementLess: Cost of goods soldGross marginLess: Non-manufacturing expensesNet operating incomePrepare variable costing income statement for the year.Crystal Cold Coolers IncorporatedVariable CostingIncome StatementLess: Variable cost of goods soldContribution marginLess: Fixed costsNet operating income:::Navt The following information pertains to the first year of operation for Crystal Cold Coolers Incorporated:Number of units producedNumber of units soldUnit sales price3,2002,500$335$ 65$ 55$ 12$75$ 25,000$ 61,000Direct materials per unitDirect labor per unit.Variable manufacturing overhead per unitFixed manufacturing overhead per unit ($240,000+3,200 units)Total variable selling expenses ($10 per unit sold)Total fixed general and administrative expenses

Income under the absorption costing method includes fixed costs and variable costs for the amount of…

ices Prepare Crystal Cold's full absorption costing income statement for the year. Crystal Cold Coolers Incorporated Full Absorption Costing Income Statement Less: Cost of goods sold Gross margin Less: Non-manufacturing expenses Net operating income Prepare variable costing income statement for the year. Crystal Cold Coolers Incorporated Variable Costing Income Statement Less: Variable cost of goods sold Contribution margin Less: Fixed costs

ices Prepare Crystal Cold's full absorption costing income statement for the year. Crystal Cold Coolers Incorporated Full Absorption Costing Income Statement Less: Cost of goods sold Gross margin Less: Non-manufacturing expenses Net operating income Prepare variable costing income statement for the year. Crystal Cold Coolers Incorporated Variable Costing Income Statement Less: Variable cost of goods sold Contribution margin Less: Fixed costs

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter6: Activity-based, Variable, And Absorption Costing

Section: Chapter Questions

Problem 14EA: Cool Pool has these costs associated with production of 20,000 units of accessory products: direct...

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