Answered step by step
Verified Expert Solution
Question
1 Approved Answer
1 and 2 please Quarryman Corporation Case Part I: Quarryman Corporation manufactures and sells 50-inch television sets and uses standard costing. Actual date relating to
1 and 2 please
Quarryman Corporation Case Part I: Quarryman Corporation manufactures and sells 50-inch television sets and uses standard costing. Actual date relating to January, February, and March 2019 are as follows: January February March Unit data: Beginning Inventory 0 100 100 Production 1,500 1,425 1,425 1,560 Sales 1,550 1,400 Variable Costs: Manufacturing Cost per unit produced Marketing cost per unit sold $1,000 $1,000 $1,000 $700 $700 $700 Fixed Costs: Manufacturing Costs Marketing Costs $525,000 $525,000 $525,000 $140,000 $140,000 $140,000 The selling price per unit is $3,600. The budgeted level of production used to calculate the budgeted fixed manufacturing costs was 1,500 units in January, 1,425 units in February, and 1,560 units in March. There are no price, efficiency or spending variances to worry about Part II: The variable manufacturing costs per unit of Quarryman Corporation are as follows: January February $535 March Direct materials cost $535 $535 per unit Direct manufacturing labor cost per unit MOH cost per unit $190 $190 $190 $275 $275 $275 $1,000 $1,000 $1,000 1. Prepare income statement for Quarryman Corporation in January, February and March 2019 under throughput costing. 2. Contrast the results of throughput costing with those of variable costing. If you calculate different profit figures, reconcile the difference. In other words, tell me where the difference is, and quantify itStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started