Wiengot Antennas, Inc., produces and sells a unique type of TV antenna. The company has just opened a new plant to manufacture the antenna, and the following cost and revenue data have been provided for the first month of the plant’s operation. Beginning inventory 0 Units produced 50,000 Units sold 45,000 Selling price per unit $76 Selling and administrative expenses: Variable per unit $3 Fixed (total) $567,000 Manufacturing costs Direct materials cost per unit $15 Direct labor cost per unit $7 Variable manufacturing overhead cost per unit $3 Fixed manufacturing overhead cost (total) $900,000. on the basis of aborption costing. Determine the unit product cost. Prepare an income statement for the month. on the basis of variable costing. Determine the unit product cost. Prepare an contribution formate income statement for the month.

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Wiengot Antennas, Inc., produces and sells a unique type of TV antenna. The company has just opened
a new plant to manufacture the antenna, and the following cost and revenue data have been provided for
the first month of the plant’s operation.
Beginning inventory 0
Units produced 50,000
Units sold 45,000
Selling price per unit $76
Selling and administrative expenses:
Variable per unit $3
Fixed (total) $567,000
Manufacturing costs
Direct materials cost per unit $15
Direct labor cost per unit $7
Variable manufacturing overhead cost per unit $3
Fixed manufacturing overhead cost (total) $900,000.

on the basis of aborption costing.
Determine the unit product cost.

Prepare an income statement for the month.

on the basis of variable costing.

Determine the unit product cost.

Prepare an contribution formate income statement for the month.

 

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