Please do not give solution in image format thanku Compute the unit product cost for Year 1, Year 2, and Year 3. Assume the company uses variable costing.Year 1Year 2Year 3Unit product costReq 1Complete this question by entering your answers in the tabs below.Net operating income (loss)Req 2AReq 1Unit product costPrepare an income statement for Year 1, Year 2, and Year 3. Assume the company uses variable costing.Haas CompanyVariable Costing Income StatementYear 1Req 2AReq 1Req 2BYear 1< Req 1Req 2BReq 2AReq 3AYear 2Complete this question by entering your answers in the tabs below.$Req 2B< Req 2AReq 3AYear 300< Req 2BReq 3B00 $Req 3AReq 3BCompute the unit product cost for Year 1, Year 2, and Year 3. Assume the company uses absorption costing. (Round yourintermediate calculations and final answers to 2 decimal places.)Year 2Haas CompanyAbsorption Costing Income StatementYear 1000Complete this question by entering your answers in the tabs below.Req 2B >00 $Req 3BReq 3B >Year 2Year 3Req 3A >0Prepare an income statement for Year 1, Year 2, and Year 3. Assume the company uses absorption costing. (Round yourintermediate calculations to 2 decimal places.)0000Year 30 Haas Company manufactures and sells one product. The following information pertains to each of the company's first three years ofoperations:Variable costs per unit:Manufacturing:Direct materialsDirect laborVariable manufacturing overheadVariable selling and administrativeFixed costs per year:Fixed manufacturing overheadFixed selling and administrative expensesRequired:1. Compute the company's break-even point in unit sales.2. Assume the company uses variable costing:During its first year of operations, Haas produced 50,000 units and sold 50,000 units. During its second year of operations, itproduced 65,000 units and sold 40,000 units. In its third year, Haas produced 30,000 units and sold 55,000 units. The selling price ofthe company's product is $48 per unit.a. Compute the unit product cost for Year 1, Year 2, and Year 3.b. Prepare an income statement for Year 1, Year 2, and Year 3.3. Assume the company uses absorption costing:a. Compute the unit product cost for Year 1, Year 2, and Year 3.b. Prepare an income statement for Year 1, Year 2, and Year 3.Req 1Complete this question by entering your answers in the tabs below.Req 2AReq 2BBreak-even unit sales.Compute the company's break-even point in unit sales.Req 3Aunits$ 20$ 12$3$ 1$ 390,000$ 210,000< Req 1Req 3BReq 2A >

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operations: Variable costs per unit: Manufacturing: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs per year: Fixed manufacturing overhead Fixed selling and administrative expenses $ 20 $ 12 $3 $1 $ 390,000 $ 210,000 During its first year of operations, Haas produced 50,000 units and sold 50,000 units. During its second year of operations, it produced 65,000 units and sold 40,000 units. In its third year, Haas produced 30,000 units and sold 55,000 units. The selling price of the company's product is $48 per unit. Required: 1. Compute the company's break-even point in unit sales. 2. Assume the company uses variable costing: a. Compute the unit product cost for Year 1, Year 2, and Year 3. b. Prepare an Income statement for Year 1, Year 2, and Year 3.

operations: Variable costs per unit: Manufacturing: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs per year: Fixed manufacturing overhead Fixed selling and administrative expenses $ 20 $ 12 $3 $1 $ 390,000 $ 210,000 During its first year of operations, Haas produced 50,000 units and sold 50,000 units. During its second year of operations, it produced 65,000 units and sold 40,000 units. In its third year, Haas produced 30,000 units and sold 55,000 units. The selling price of the company's product is $48 per unit. Required: 1. Compute the company's break-even point in unit sales. 2. Assume the company uses variable costing: a. Compute the unit product cost for Year 1, Year 2, and Year 3. b. Prepare an Income statement for Year 1, Year 2, and Year 3.

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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