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Required information [The following information applies to the questions displayed below.] Chuck Wagon Grills, Incorporated, makes a barbecue grill 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 Required: 1. Assume the company uses variable costing. Compute the unit product cost for one barbecue grill. 2. Assume the company uses variable costing. Prepare a contribution format income statement for last year. 3. How many barbecue grills must be sold to break even?

Required information [The following information applies to the questions displayed below.] Chuck Wagon Grills, Incorporated, makes a barbecue grill 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 Required: 1. Assume the company uses variable costing. Compute the unit product cost for one barbecue grill. 2. Assume the company uses variable costing. Prepare a contribution format income statement for last year. 3. How many barbecue grills must be sold to break even?

FINANCIAL ACCOUNTING
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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Required information [The following information applies to the questions displayed below.] Chuck Wagon Grills, Incorporated, makes a barbecue grill 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 Required: 1. Assume the company uses variable costing. Compute the unit product cost for one barbecue grill. 2. Assume the company uses variable costing. Prepare a contribution format income statement for last year. 3. How many barbecue grills must be sold to break even?
Transcribed Image Text:Required information [The following information applies to the questions displayed below.] Chuck Wagon Grills, Incorporated, makes a barbecue grill 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 Required: 1. Assume the company uses variable costing. Compute the unit product cost for one barbecue grill. 2. Assume the company uses variable costing. Prepare a contribution format income statement for last year. 3. How many barbecue grills must be sold to break even?
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