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Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2017, the company incurred the following costs.

Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2017, the company incurred the following costs.

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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Prepare a variable costing income statement for 2017. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) eTextbook and Media Manufacturing cost per unit SIREN COMPANY Income Statement eTextbook and Media Variable Costing $ Assuming the company uses absorption costing, calculate Siren's manufacturing cost per unit for 2017. (Round answer to 2 decimal places, e.g.10.50.) SIREN COMPANY Income Statement Prepare an absorption costing income statement for 2017. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Absorption Costing $ $ $ $
Transcribed Image Text:Prepare a variable costing income statement for 2017. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) eTextbook and Media Manufacturing cost per unit SIREN COMPANY Income Statement eTextbook and Media Variable Costing $ Assuming the company uses absorption costing, calculate Siren's manufacturing cost per unit for 2017. (Round answer to 2 decimal places, e.g.10.50.) SIREN COMPANY Income Statement Prepare an absorption costing income statement for 2017. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) Absorption Costing $ $ $ $
Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2017, the company incurred the following costs. Variable Costs per Unit Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses Fixed Costs per Year Fixed manufacturing overhead Fixed selling and administrative expenses $8.18 $3.76 $6.32 $4.25 $245,700 $229,009 Siren Company sells the fishing lures for $27.25. During 2017, the company sold 80,000 lures and produced 90,000 lures. Manufacturing cost per unit $ Assuming the company uses variable costing, calculate Siren's manufacturing cost per unit for 2017. (Round answer to 2 decimal places, e.g.10.50.)
Transcribed Image Text:Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2017, the company incurred the following costs. Variable Costs per Unit Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses Fixed Costs per Year Fixed manufacturing overhead Fixed selling and administrative expenses $8.18 $3.76 $6.32 $4.25 $245,700 $229,009 Siren Company sells the fishing lures for $27.25. During 2017, the company sold 80,000 lures and produced 90,000 lures. Manufacturing cost per unit $ Assuming the company uses variable costing, calculate Siren's manufacturing cost per unit for 2017. (Round answer to 2 decimal places, e.g.10.50.)
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