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Check my work 5 Required information Part 3 of The following information applies to the questions displayed below.] Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The co Skipped produced 6,000 rackets and sold 4,900. Each racket was sold at a price of $90. F costs are $78,000 per year , and fixed selling and administrative costs are $65,200 per year. The company also reports the following per unit variable costs for the year. Direct material Variable overhead Variable selling and administrative expenses 0 14 10 0 Prepare an income statement under absorption costing. ACES INCORPORATED here fences Income Statement (Absorption Costing) Check my work 6 required information Part 4 01 4 The following information applies to the questions displayed below.] Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company Skipped produced 6,000 rackets and sold 4,900. Each racket was sold at a price of $90. Fixed overhead costs are $78,000 per year, and fixed selling and administrative costs are $65,200 per year. The company also reports the following per unit variable costs for the year . Direct material Variable selling and administrative expenses Compute the cost of ending finished goods inventory reported on the balance sheet using absorption costing. Finished goods inventory under absorption costing References Product cost per unit Finished goods inventory reported on balance sheet Check my work 9 ex Incorporated reports the following data for its only product. The company had no beginning finished goods inventory and it uses absorption costing . Skipped Sales price 56.00 per unit Direct labor 5 6.50 per unit Fixed overhead EBOOK $ 720, 000 per year 1. Compute gross profit assuming (a) 60,000 units are produced and 60,000 units are sold and (b) 80,000 units are duced and 60,000 units are sold. 2. By how much would the company's gross profit increase or producing 20,000 more units than it Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute gross profit assuming (a) 60,000 units are produced and 60,000 units are sold and (b) 80,000 units are produce and 60,000 units are sold. Produced and 60,000 Produced and 60,000 Gross profit Required 2 By how much would the company's gross profit increase or decrease from producing 20,000 more units than it sells? Gross profit