Required information[The following information applies to the questions displayed below.]Cool Sky reports the following for its first year of operations. The company produced 44,000 units and sold 36,000 unitsat a price of $120 per unit.Direct materialsDirect laborVariable overheadFixed overheadVariable selling and administrative expensesFixed selling and administrative expenses2a. Assume the company uses variable costing. Determine its total product cost per unit.VariablecostingPer unit product cost using:Total product cost per unit$ 48 per unit$ 18 per unit$6 per unit$ 440,000 per year$ 12 per unit105,000 per year.$ [The following information applies to the questions displayed below.]Cool Sky reports the following for its first year of operations. The company produced 44,000 units and sold 36at a price of $120 per unit.Direct materialsDirect laborVariable overheadFixed overheadVariable selling and administrative expensesFixed selling and administrative expenses2b. Assume the company uses variable costing. Prepare its income statement for the year under variable costing.Income$ 48 per unit$ 18 per unit$6 per unit440,000 per year$$ 12 per unit$ 105,000 per yearIncome Statement (Variable Costing)

Using variable costing, the cost of goods include only the variable manufacturing costs. The net…

! Required information [The following information applies to the questions displayed below.] Cool Sky reports the following for its first year of operations. The company produced 44,000 units and sold 36,000 units at a price of $120 per unit. Direct materials Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses 2a. Assume the company uses variable costing. Determine its total product cost per unit. Variable costing Per unit product cost using: Total product cost per unit $ $ $ 48 per unit $ 18 per unit $6 per unit 440,000 per year $ 12 per unit 105,000 per year

! Required information [The following information applies to the questions displayed below.] Cool Sky reports the following for its first year of operations. The company produced 44,000 units and sold 36,000 units at a price of $120 per unit. Direct materials Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses 2a. Assume the company uses variable costing. Determine its total product cost per unit. Variable costing Per unit product cost using: Total product cost per unit $ $ $ 48 per unit $ 18 per unit $6 per unit 440,000 per year $ 12 per unit 105,000 per year

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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