Required: 1. Compute the unit product cost under each of the following costing method. a Absorption costing) b Vaniable costing Unit Product Cost 2. Prepare an income statement for the month using absorption costing. (Do not leave any empty spaces; input a O wherever it is required.) Cost of goods sold
Required: 1. Compute the unit product cost under each of the following costing method. a Absorption costing) b Vaniable costing Unit Product Cost 2. Prepare an income statement for the month using absorption costing. (Do not leave any empty spaces; input a O wherever it is required.) Cost of goods sold
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Required:
1. Compute the unit product cost under each of the following costing method.
a Absorption costing
b Vanable costing
Unit Product
Cost
2. Prepare an income statement for the month using absorption costing. (Do not leave any empty spaces; input a O wherever it is
required.)
Cost of goods sold
Transcribed Image Text:Zurgot Inc. has just organized a new division to manufacture and sell specially designed computer tables, using select hardwoods. The
division's monthly costs are shown in the schedule below:
Manufacturing costs:
Variable costs per unit:
Direct materials
Variable manufacturing overhead
Fixed manufacturing overhead costs (total)
Selling and administrative costs:
Variable
Fixed (total)
Units produced
Units sold
4,470
3,210
Aktination
$
$
178
13
$433,590
Zurgot regards all of its workers as full-time employees, and the company has a long-standing no-layoff policy. Furthermore.
production is highly automated. Accordingly, the company includes its labour costs in its fixed manufacturing overhead. The tables sell
for $496 each.
During the first month of operations, the following activity was recorded:
Unit Product
Cost
15% of sales
$272,670
Required:
1. Compute the unit product cost under each of the following costing method..
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