Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2020, the company incurredt following costs. Varlable Costs per Unit Direct materials $10.35 Direct labor $4.76 Variable manufacturing overhead Variable selling and administrative expenses $8.00 $5.38 Fixed Costs per Year Fixed manufacturing overhead Fixed selling and administrative expenses $307,050 $289,938 iren Company sells the fishing lures for $34.50. During 2020, the company sold 80.000 lures and produced 89.000 lures. (a) Your answer is correct. Assuming the company uses variable costing. calculete Siren's manufacturing cost perunit for 2020 (Round answer to 2 decimal places, eg. 10.5O.) Manufacturing cost per unit 22.11
Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2020, the company incurredt following costs. Varlable Costs per Unit Direct materials $10.35 Direct labor $4.76 Variable manufacturing overhead Variable selling and administrative expenses $8.00 $5.38 Fixed Costs per Year Fixed manufacturing overhead Fixed selling and administrative expenses $307,050 $289,938 iren Company sells the fishing lures for $34.50. During 2020, the company sold 80.000 lures and produced 89.000 lures. (a) Your answer is correct. Assuming the company uses variable costing. calculete Siren's manufacturing cost perunit for 2020 (Round answer to 2 decimal places, eg. 10.5O.) Manufacturing cost per unit 22.11
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2020, the company incurred the
following costs.
Varlable Costsper Unit
Direct materials
$10.35
Direct labor
$4.76
Variable manufacturing overhead
Variable selling and administrative expenses
$8.00
$5.38
Fixed Costs per Year
Fixed manufacturing overhead
Fixed selling and administrative expenses
$307,050
$289.938
Siren Company sells the fishing lures for $34.50. During 2020, the company sold 80,000 lures and produced 89,000 lures.
Your answer is correct.
Assuming thecompany use variable costing, calculete Sirenis marufacturing cost perunit for 2020 (Round answer to 2 decimal
places, e.g. 10.50.)
Manufacturing cost per Unit
Transcribed Image Text:(d)
Prepare an absorption costing income statement for 2020. (Enter negative amounts using elther a negotive sign preceding the
numbereg-45 or parentheses eg.(45))
SIREN COMPANY
Income Statement
Absorption Costing
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