(a). Prepare income statements for Crystal Clear in January, February, and March of 2020 under variable costing. Complete the top half of the income statement for each month first, then complete the bottom portion. (Complete all input fields. Enter a "0" for any zero balance accounts.) January 2020 February 2020 March 2020 ☐☐☐☐ Unit data: Beginning inventory Production Sales Variable costs: January February March 0 150 150 1,100 1,075 1,200 950 1,075 1,205 Manufacturing cost per unit produced ᏌᏊ $ 950 $ 950 $ 950 Operating (marketing) cost per unit sold $ 650 $ 650 $ 650 Fixed costs: Manufacturing costs $ 440,000 $ 440,000 $ 440,000 Operating (marketing) costs $ 180,000 $ 180,000 $ 180,000
(a). Prepare income statements for Crystal Clear in January, February, and March of 2020 under variable costing. Complete the top half of the income statement for each month first, then complete the bottom portion. (Complete all input fields. Enter a "0" for any zero balance accounts.) January 2020 February 2020 March 2020 ☐☐☐☐ Unit data: Beginning inventory Production Sales Variable costs: January February March 0 150 150 1,100 1,075 1,200 950 1,075 1,205 Manufacturing cost per unit produced ᏌᏊ $ 950 $ 950 $ 950 Operating (marketing) cost per unit sold $ 650 $ 650 $ 650 Fixed costs: Manufacturing costs $ 440,000 $ 440,000 $ 440,000 Operating (marketing) costs $ 180,000 $ 180,000 $ 180,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Crystal Clear Corporation manufactures and sells 50-inch television sets and uses standard costing. Actual data relating to January, February, and March 2020 are as follows:
The selling price per unit is $2,900. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 1,100 units. There are no price, efficiency, or spending variances. Any production-volume variance is written off to cost of goods sold in the month in which it occurs.
Requirement 1 - Prepare income statements for Crystal Clear in January, February, and March 2020 under (a) variable costing and (b) absorption costing
Transcribed Image Text:(a). Prepare income statements for Crystal Clear in January, February, and March of 2020 under variable costing.
Complete the top half of the income statement for each month first, then complete the bottom portion. (Complete all input fields. Enter a "0" for any zero balance accounts.)
January 2020
February 2020
March 2020
☐☐☐☐
Transcribed Image Text:Unit data:
Beginning inventory
Production
Sales
Variable costs:
January February
March
0
150
150
1,100
1,075
1,200
950
1,075
1,205
Manufacturing cost per unit produced
ᏌᏊ
$
950 $
950 $
950
Operating (marketing) cost per unit sold
$
650 $
650 $
650
Fixed costs:
Manufacturing costs
$
440,000 $
440,000 $
440,000
Operating (marketing) costs
$
180,000 $
180,000 $
180,000
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