The following information pertains to the first year of operation for Crystal Cold Coolers Incorporated: Number of units produced Number of units sold Unit sales price 2,900 2,500 $355
The following information pertains to the first year of operation for Crystal Cold Coolers Incorporated: Number of units produced Number of units sold Unit sales price 2,900 2,500 $355
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![The following information pertains to the first year of operation for Crystal Cold Coolers Incorporated:
Number of units produced
Number of units sold
Unit sales price
Direct materials per unit
Direct labor per unit
Variable manufacturing overhead per unit
Fixed manufacturing overhead per unit ($188,500÷2,900 units)
Total variable selling expenses ($13 per unit sold)
Total fixed general and administrative expenses
2,900
2,500
$355
$ 55
$ 40
$11
$ 65
$ 32,500
$ 63,000
Required:
Prepare Crystal Cold's full absorption costing income statement and variable costing income statement for the year.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fdf2234f9-1fe8-4907-9c7e-421956752cff%2Fa2bbb665-5dc5-4701-bee6-b1b4ebc0c617%2Fo7vvyp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:The following information pertains to the first year of operation for Crystal Cold Coolers Incorporated:
Number of units produced
Number of units sold
Unit sales price
Direct materials per unit
Direct labor per unit
Variable manufacturing overhead per unit
Fixed manufacturing overhead per unit ($188,500÷2,900 units)
Total variable selling expenses ($13 per unit sold)
Total fixed general and administrative expenses
2,900
2,500
$355
$ 55
$ 40
$11
$ 65
$ 32,500
$ 63,000
Required:
Prepare Crystal Cold's full absorption costing income statement and variable costing income statement for the year.
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