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Maher Corporation, which has only one product, has provided the following data concerning its most recent month of operations: $ 190 selling price Units in beginning inventory Units produced Units sold 3,280 3,170 110 Units in ending inventory Variable costs per unit: Direct raterials Direct labor Variable manufacturing overhead Variable selling and administrative expense Fixed costs: $ 49 $ 53 $ 15 $ 18 Fixed manufacturing overhead Fixed selling and adrinistrative $ 181,68e $ 12,688 Required: . What is the unit product cost for the month under variable costing? b. What is the unit product cost for the month under absorption costing? c. Prepare a contribution format income statement for the month using variable costing. d. Prepare an income statement for the month using absorption costing. e. Reconcile the variable costing and absorption costing net operating incomes for the month.

Maher Corporation, which has only one product, has provided the following data concerning its most recent month of operations: $ 190 selling price Units in beginning inventory Units produced Units sold 3,280 3,170 110 Units in ending inventory Variable costs per unit: Direct raterials Direct labor Variable manufacturing overhead Variable selling and administrative expense Fixed costs: $ 49 $ 53 $ 15 $ 18 Fixed manufacturing overhead Fixed selling and adrinistrative $ 181,68e $ 12,688 Required: . What is the unit product cost for the month under variable costing? b. What is the unit product cost for the month under absorption costing? c. Prepare a contribution format income statement for the month using variable costing. d. Prepare an income statement for the month using absorption costing. e. Reconcile the variable costing and absorption costing net operating incomes for the month.

FINANCIAL ACCOUNTING
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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Please help me with C and D parts. Thank you!

Maher Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price Units in beginning inventory Units produced Units sold $ 190 3,280 3,170 Units in ending inventory Variable costs per unit: Direct naterials Direct labor 110 $ 49 $ 53 $ 15 $ 18 Variable manufacturing overhead Variable selling and administrative expense Fixed costS: Fixed manufacturing overhead Fixed selling and adninistrative $ 181,680 $ 12,680 Required: a. What is the unit product cost for the month under variable costing? b. What is the unit product cost for the month under ebsorption costing? c. Prepare a contribution format income statement for the month using variable costing. d. Prepare an income statement for the month using absorption costing. e. Reconcile the variable costing and absorption costing net opersting incomes for the month. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E Prepare a contribution format income statement for the month using variable costing. Varlable Coeting Income Statement Sales $ 6,022.300 Variable expenses: Fixed manufacturing overhead 427,950 Variable selling and administrative 57,060 485,010 Contribution margin 5,537.290 Fixed expentses: 101,680 12,680 Fixed manufacturing overhead Fixed seling and administrative expenses 114.360 Net aperating kass 5,422.930 < Required B Required D >
Transcribed Image Text:Maher Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price Units in beginning inventory Units produced Units sold $ 190 3,280 3,170 Units in ending inventory Variable costs per unit: Direct naterials Direct labor 110 $ 49 $ 53 $ 15 $ 18 Variable manufacturing overhead Variable selling and administrative expense Fixed costS: Fixed manufacturing overhead Fixed selling and adninistrative $ 181,680 $ 12,680 Required: a. What is the unit product cost for the month under variable costing? b. What is the unit product cost for the month under ebsorption costing? c. Prepare a contribution format income statement for the month using variable costing. d. Prepare an income statement for the month using absorption costing. e. Reconcile the variable costing and absorption costing net opersting incomes for the month. Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D Required E Prepare a contribution format income statement for the month using variable costing. Varlable Coeting Income Statement Sales $ 6,022.300 Variable expenses: Fixed manufacturing overhead 427,950 Variable selling and administrative 57,060 485,010 Contribution margin 5,537.290 Fixed expentses: 101,680 12,680 Fixed manufacturing overhead Fixed seling and administrative expenses 114.360 Net aperating kass 5,422.930 < Required B Required D >
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