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The company, which has only one product, has provided the following data concerning its most recent month of operations:Selling price $124Units in beginning inventory: 0Units produced: 6,100Units sold
The company, which has only one product, has provided the following data concerning its most recent month of operations:Selling price $124Units in beginning inventory: 0Units produced: 6,100Units sold: 5,600Units in ending inventory: 500variable costs per unit:Direct material: $23Direct labor: 43Variable manufacturing overhead: 2Variable selling and administrative: 11Fixed costs:Fixed manufacturing overhead: $183,000Fixed selling and administrative: $61,6001) Prepare a contribution format income statement for the month using variable costing.
2) Prepare an income statement for the month using absorption costing.
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**** calculate ******* **** under eat ****************************** ****************** ***************** *** Ohs22Fixed *** ohs030=183000/6100Product cost68981) ************ ****** ****** ********* ***** ******** ************ *********************** cost of ***** **** ********************** ******* ***** Admin *** ************************* *********** mfg **** 183000Fixed selling *** 61600Net ****** 74001) Income ********* ***** ********** ************ 694400=124*5600cost ** ***** **** ******************* ****** *********** ******* *** ****************** selling exp 61600Net ****** *****
