Please do not give solution in image format thanku Required information[The following information applies to the questions displayed below.]Barnes Company reports the following for its product for its first year of operations.$30 per unit$20 per unit$10 per unit$80,000 per year$2 per unit$32,000 per yearDirect materialsDirect laborVariable overheadFixed overheadVariable selling and administrative expensesFixed selling and administrative expensesThe company sells its product for $140 per unit. Compute contribution margin using variable costing assuming the company (a)produces and sells 2,500 units and (b) produces 3,200 units and sells 2,500 units.Contribution margin using variable costingSalesVariable expensesVariable cost of goods soldContribution margin(a) 2,500 Units Produced and2,500 Units Sold350,000$(b) 3,200 Units Producedand 2,500 Units Sold$350,000195,000 $195,000

The contribution margin is calculated as the difference between the sales and variable costs. The…

Required information [The following information applies to the questions displayed below.] Barnes Company reports the following for its product for its first year of operations. $ 30 per unit $ 20 per unit $10 per unit $80,000 per year $ 2 per unit $32,000 per year Direct materials Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses

Required information [The following information applies to the questions displayed below.] Barnes Company reports the following for its product for its first year of operations. $ 30 per unit $ 20 per unit $10 per unit $80,000 per year $ 2 per unit $32,000 per year Direct materials Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses

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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