Ques Variable costs
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Variable costs
Operating income
Ending inventory
Duri
unit Sales
selli Cost of goods sold
Ques
(a)
Pr
Costs of goods manufactured
Goods available for sale
Beginning inventory
Fixed costs
Volume variance i
Selling and administrative expenses
Gross margin
Contribution margin.
Sales
900 units and sold 42,210 for $14.00 per unit. Variable manufacturing costs were $5.00 pe
d was $84,420, Variable selling and administrative costs were $2.00 per unit sold, and fixed
$18,800.
statement.
Pharoah Corp.
Income Statement-Absorption Costing
$

Transcribed Image Text:During 2022, Pharoah Corp. produced 46,900 units and sold 42,210 for $14.00 per unit. Variable manufacturing costs were $5.00 per
unit. Annual fixed manufacturing overhead was $84,420. Variable selling and administrative costs were $2.00 per unit sold, and fixed
selling and administrative expenses were $18,800.
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