[The following information applies to the questions displayed below.] Chuck Wagon Grills, Incorporated, makes a barbecue grill it sells for $210. Data for last year's operations follow: Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor 0 26,400 22,200 4,200 Net operating income(loss) $ 50 80 Variable manufacturing overhead 20 Variable selling and administrative 10 $ 160 Total variable cost per unit Fixed costs: Fixed manufacturing overhead Fixed selling and administrative Total fixed costs $924,000 333,000 $ 1,257,000 Assume the company uses absorption costing. Prepare an income statement for last year. Chuck Wagon Grills, Incorporated Absorption Costing Income Statement 0 $0
[The following information applies to the questions displayed below.] Chuck Wagon Grills, Incorporated, makes a barbecue grill it sells for $210. Data for last year's operations follow: Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor 0 26,400 22,200 4,200 Net operating income(loss) $ 50 80 Variable manufacturing overhead 20 Variable selling and administrative 10 $ 160 Total variable cost per unit Fixed costs: Fixed manufacturing overhead Fixed selling and administrative Total fixed costs $924,000 333,000 $ 1,257,000 Assume the company uses absorption costing. Prepare an income statement for last year. Chuck Wagon Grills, Incorporated Absorption Costing Income Statement 0 $0
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![[The following information applies to the questions displayed below.]
Chuck Wagon Grills, Incorporated, makes a barbecue grill it sells for $210. Data for last year's operations follow:
Units in beginning inventory
Units produced
Units sold
Units in ending inventory
Variable costs per unit:
Direct materials
Direct labor
0
26,400
Net operating income(loss)
22,200
4,200
$ 50
80
Variable manufacturing overhead 20
Variable selling and administrative 10
$ 160
Total variable cost per unit
Fixed costs:
Fixed manufacturing overhead
Fixed selling and administrative
Total fixed costs
$ 1,257,000
Assume the company uses absorption costing. Prepare an income statement for last year.
$924,000
333,000
Chuck Wagon Grills, Incorporated
Absorption Costing Income Statement
0
$0](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F01064941-7d1c-4085-8763-119419cfd2f2%2F60ab6bf7-3a85-4886-a22d-51bbcbcffbfe%2F2k441ho_processed.jpeg&w=3840&q=75)
Transcribed Image Text:[The following information applies to the questions displayed below.]
Chuck Wagon Grills, Incorporated, makes a barbecue grill it sells for $210. Data for last year's operations follow:
Units in beginning inventory
Units produced
Units sold
Units in ending inventory
Variable costs per unit:
Direct materials
Direct labor
0
26,400
Net operating income(loss)
22,200
4,200
$ 50
80
Variable manufacturing overhead 20
Variable selling and administrative 10
$ 160
Total variable cost per unit
Fixed costs:
Fixed manufacturing overhead
Fixed selling and administrative
Total fixed costs
$ 1,257,000
Assume the company uses absorption costing. Prepare an income statement for last year.
$924,000
333,000
Chuck Wagon Grills, Incorporated
Absorption Costing Income Statement
0
$0
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