Required information [The following information applies to the questions displayed below] Chuck Wagon Grills, Incorporated, makes a single product-a handmade specialty barbecue grill that it sells for $210. Data for last year's operations follow: Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Total variable cost per unit Fixed costs: Fixed manufacturing overhead Fixed selling and administrative Total fixed costs 0 26,400 22,200 4,200 $ 50 80 20 10 $ 160 $924,000 333,000 $ 1,257,000 quired: Assume that the company uses absorption costing. Compute the unit product cost for one barbecue grill.
Required information [The following information applies to the questions displayed below] Chuck Wagon Grills, Incorporated, makes a single product-a handmade specialty barbecue grill that it sells for $210. Data for last year's operations follow: Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Total variable cost per unit Fixed costs: Fixed manufacturing overhead Fixed selling and administrative Total fixed costs 0 26,400 22,200 4,200 $ 50 80 20 10 $ 160 $924,000 333,000 $ 1,257,000 quired: Assume that the company uses absorption costing. Compute the unit product cost for one barbecue grill.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Required information
[The following information applies to the questions displayed below.]
Chuck Wagon Grills, Incorporated, makes a single product-a handmade specialty barbecue grill that it sells for $210. Data
for last year's operations follow
Units in beginning inventory
Units produced
Units sold
Units in ending inventory
Variable costs per uniti
Direct materials
Direct labor
Variable manufacturing overhead
Variable selling and administrative
Total variable cost per unit
Fixed costs:
Fixed manufacturing overhead
Fixed selling and administrative
Total fixed costs
0
26,400
22,200
4,200
$ 50
80
20
10
$ 160
$ 924,000
333,000
$ 1,257,000
Required:
1. Assume that the company uses absorption costing. Compute the unit product cost for one barbecue grill.
2. Assume that the company uses absorption costing. Prepare an income statement for last year.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F27c9ffc8-caf5-4a01-9236-94db3faf410c%2Fbb5354b7-a701-4670-8ddf-7e5dc9f20351%2Fol6s2sr_processed.jpeg&w=3840&q=75)
Transcribed Image Text:3
Required information
[The following information applies to the questions displayed below.]
Chuck Wagon Grills, Incorporated, makes a single product-a handmade specialty barbecue grill that it sells for $210. Data
for last year's operations follow
Units in beginning inventory
Units produced
Units sold
Units in ending inventory
Variable costs per uniti
Direct materials
Direct labor
Variable manufacturing overhead
Variable selling and administrative
Total variable cost per unit
Fixed costs:
Fixed manufacturing overhead
Fixed selling and administrative
Total fixed costs
0
26,400
22,200
4,200
$ 50
80
20
10
$ 160
$ 924,000
333,000
$ 1,257,000
Required:
1. Assume that the company uses absorption costing. Compute the unit product cost for one barbecue grill.
2. Assume that the company uses absorption costing. Prepare an income statement for last year.
Transcribed Image Text:Unita in ending inventory
Variable costs per unit:
Direct materials
Direct labor
Variable manufacturing overhead
Variable selling and administrative
Total variable cost per unit
Fixed costs:
Fixed manufacturing overhead
Fixed selling and administrative
Total fixed costs
Required 1
Required:
1. Assume that the company uses absorption costing. Compute the unit product cost for one barbecue grill.
2. Assume that the company uses absorption costing. Prepare an income statement for last year.
Complete this question by entering your answers in the tabs below.
Required 2
Assume that the company uses absorption costing. Compute the unit product cost for one barbecue grill.
Unit product cost
Total fixed cos
Required 1
$ 50
80
20
10
$160
$ 924,000
333,000
$ 1,257,000
< Required 1
Required 2
Required:
1. Assume that the company uses absorption costing. Compute the unit product cost for one bar
2. Assume that the company uses absorption costing. Prepare an income statement for last yea
Complete this question by entering your answers in the tabs below.
Net operating income (loss)
Required 2 >
Assume that the company uses absorption costing. Prepare an income statement for last year.
Chuck Wagon Grills, Incorporated
Absorption Costing Income Statement
< Required 1
Required 2 >
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