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Splish Golf Ltd. produces and sells special golf balls for $20.00 for a pack of three. In May 2022, the company manufactured 35,400 packs (its normal volume) and sold 33,040 packs. The beginning inventory on May 1, 2022, was 5,900 packs. Production information for May 2022 is as follows: Direct manufacturing labour per pack Fixed selling and administrative costs Fixed manufacturing overhead Direct materials costs per pack Direct labour rate per hour Variable manufacturing overhead per pack Variable selling expenses per pack 15.00 minutes $47,200 $155,760 $2.00 $24.00 $4.00 $2.00

Splish Golf Ltd. produces and sells special golf balls for $20.00 for a pack of three. In May 2022, the company manufactured 35,400 packs (its normal volume) and sold 33,040 packs. The beginning inventory on May 1, 2022, was 5,900 packs. Production information for May 2022 is as follows: Direct manufacturing labour per pack Fixed selling and administrative costs Fixed manufacturing overhead Direct materials costs per pack Direct labour rate per hour Variable manufacturing overhead per pack Variable selling expenses per pack 15.00 minutes $47,200 $155,760 $2.00 $24.00 $4.00 $2.00

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 income statement for month ended may 31st 2022 under absorption and variable costing

Splish Golf Ltd. produces and sells special golf balls for $20.00 for a pack of three. In May 2022, the company manufactured 35,400 packs (its normal volume) and sold 33,040 packs. The beginning inventory on May 1, 2022, was 5,900 packs. Production information for May 2022 is as follows: Direct manufacturing labour per pack Fixed selling and administrative costs Fixed manufacturing overhead Direct materials costs per pack Direct labour rate per hour Variable manufacturing overhead per pack Variable selling expenses per pack 15.00 minutes $47,200 $155,760 $2.00 $24.00 $4.00 $2.00
Transcribed Image Text:Splish Golf Ltd. produces and sells special golf balls for $20.00 for a pack of three. In May 2022, the company manufactured 35,400 packs (its normal volume) and sold 33,040 packs. The beginning inventory on May 1, 2022, was 5,900 packs. Production information for May 2022 is as follows: Direct manufacturing labour per pack Fixed selling and administrative costs Fixed manufacturing overhead Direct materials costs per pack Direct labour rate per hour Variable manufacturing overhead per pack Variable selling expenses per pack 15.00 minutes $47,200 $155,760 $2.00 $24.00 $4.00 $2.00
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