Sam Darnold Company produces a single product called INT6, this company has provided the following data concerning its most recent month of operations: Selling price Units in begining inventory Units produced 119 370 6,420 6,330 Units sold Units in ending inventory Variable costs per unit: 460 Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expense Fixed costs: %24 46 21 2 18 Fixed manufacturing overhead Fixed selling and administrative expense $141,240 $ 56,970 The company produces the same number of units every month, although the sales In units vary from month to month. The company's varlable costs per unit and total fixed costs have been constant from month to month. Requlred: a. Prepare a contribution format Income statement for the month using varlable costing. b. Prepare an Income statement for the month using absorption costing.
Sam Darnold Company produces a single product called INT6, this company has provided the following data concerning its most recent month of operations: Selling price Units in begining inventory Units produced 119 370 6,420 6,330 Units sold Units in ending inventory Variable costs per unit: 460 Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expense Fixed costs: %24 46 21 2 18 Fixed manufacturing overhead Fixed selling and administrative expense $141,240 $ 56,970 The company produces the same number of units every month, although the sales In units vary from month to month. The company's varlable costs per unit and total fixed costs have been constant from month to month. Requlred: a. Prepare a contribution format Income statement for the month using varlable costing. b. Prepare an Income statement for the month using absorption costing.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Sam Darnold Company produces a single product called INT6, this company has provided the following data
concerning its most recent month of operations:
Selling price
Units in beginning inventory
Units produced
119
370
6,420
Units sold
6,330
Units in ending inventory
Variable costs per unit:
Direct materials
Direct labor
Variable manufacturing overhead
Variable selling and administrative expense
Fixed costs:
Fixed manufacturing overhead
Fixed selling and administrative expense
460
$.
46
21
2.
18
$141,240
$ 56,970
The company produces the same number of units every month, although the sales In units vary from month to month. The company's
varlable costs per unit and total fixed costs have been constant from month to month.
Requlred:
a. Prepare a contribution format Income statement for the month using varlable costing.
b. Prepare an Income statement for the month using absorption costing.
Complete this question by entering your answers in the tabs below.
Required A
Required B
Prepare a contribution format income statement for the month using variable costing,
Variable Costing Income Statement
Variable expenses:
Fixed expenses:
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Transcribed Image Text:Sam Darnold Company produces a single product called INT6, this company has provided the following data
concerning its most recent month of operations:
Selling price
Units in beginning inventory
Units produced
119
370
6,420
Units sold
6,330
Units in ending inventory
Variable costs per unit:
Direct materials
Direct labor
Variable manufacturing overhead
Variable selling and administrative expense
Fixed costs:
Fixed manufacturing overhead
Fixed selling and administrative expense
460
$.
46
21
2.
18
$141,240
$ 56,970
The company produces the same number of units every month, although the sales In units vary from month to month. The company's
varlable costs per unit and total fixed costs have been constant from month to month.
Requlred:
a. Prepare a contribution format Income statement for the month using varlable costing.
b. Prepare an Income statement for the month using absorption costing.
Complete this question by entering your answers in the tabs below.
Required A
Required B
Prepare a contribution format income statement for the month using variable costing,
Variable Costing Income Statement
Variable expenses:
Fixed expenses:
< Prev
7 of 10
Next >
e here to search
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