Writer One Inc. manufactures ball point pens that sell at wholesale for $0.80 per unit. Budgeted production in both 2018 and 2019 was 8,500 units. There was no beginning inventory in 2018. The following data summarized the 2018 and 2019 operations: 20182019Units sold 7,000 6,500 Units produced 8,500 7,500 Costs: Variable factory overhead per unit$0.15 $0.15 Fixed factory overhead$1,700 $1,500 Variable marketing per unit$0.30 $0.30 Fixed Selling and Administrative$320 $320 Full costing operating income for 2019 is calculated to be:

Formula: Net income = Revenues - expenses

Answered: Writer One Inc. manufactures ball point…

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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Writer One Inc. manufactures ball point pens that sell at wholesale for $0.80 per unit. Budgeted production in both 2018 and 2019 was 8,500 units. There was no beginning inventory in 2018. The following data summarized the 2018 and 2019 operations:

	2018	2019
Units sold		7,000		6,500
Units produced		8,500		7,500
Costs:
Variable factory overhead per unit	$	0.15	$	0.15
Fixed factory overhead	$	1,700	$	1,500
Variable marketing per unit	$	0.30	$	0.30
Fixed Selling and Administrative	$	320	$	320