Manufacturing Costs Assignment | Top Universities

Beginning inventory Units produced Units sold Selling price per unit Selling and administrative expenses: Variable per unit Fixed per year Manufacturing costs: Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead per year 25,300 20,700 422 15 $393,300 249 53 36 $354,200 Assume that direct labor is a variable cost. Required: a. Compute the unit product cost under both the absorption costing and variable costing approaches b. Prepare an income statement for the year using absorption costing

c. Prepare an income statement for the year using variable costing d. Reconcile the absorption costing and variable costing net operating income figures in (b) and (c) above. Complete this question by entering your answers in the tabs below. Required D Required C Required B Required A Compute the unit product çost under both the absorption costing and variable costing approaches. Cost Per Unit Absorption costing Variable costing Beginning inventory Units produced Units sold 25,300 20,700 422 Selling price per unit Selling and administrative expenses 15 Variable per unit Fixed per year Manufacturing costs: Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead per year $393,300 S 249 53 36 $354,200 Assume that direct labor is a variable cost. Required: Compute the unit product cost under both the absorption costing and variable costing approaches. b. Prepare an income statement for the year using absorption costing. c. Prepare an income statement for the year using variable costing d. Reconcile the absorption costing and variable costing net operating income figures in (b) and (c) above. a. Complete this question by entering your answers in the tabs below. Required B Required D Required A Required C Prepare an income statement for the year using absorption costing. Absorption Costing Income Statement Required A Required B Required C Required D Prepare an income statement for the year using variable costing. Variable Costing Income Statement Variable expenses Fixed expenses Complete this question by entering your answers in the tabs below. Required A Required B Required C Required D uanne Reconcile the absorption costing and variable costing net operating income figures in (b) and (c) above. uELISut1 t Reconciliation of Variable Costing and Absorption Costing Net Operating Incomes Net operating income (loss) under variable costing Net operating income (loss) under absorption costing. Get Accounting Homework Help Today.