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7. please answer in excel sheet Metlock Corp. is a manufacturer of specialty in-line skates. The operating results for 2022 are as follows: Units produced
7.
please answer in excel sheet
Metlock Corp. is a manufacturer of specialty in-line skates. The operating results for 2022 are as follows: Units produced 20,000 pairs Units sold 17,600 pairs Selling price $210.00 per pair Production information: Direct materials $1.060.000 Direct labour 740.000 Variable manufacturing overhead 420.000 Fixed manufacturing overhead 800.000 Variable marketing costs 211.200 Fixed marketing costs 195.600 There was no beginning finished goods inventory. (a) Assume the company uses normal-absorption costing and uses the budgeted volume of 25,000 pairs to allocate the fixed overhead rate rather than the actual production volume of 20,000 pairs. The company expenses production volume variance to cost of goods sold in the accounting period in which it occurs. Do the following: 1 Calculate the manufacturing cost per unit (Round per unit calculations and final answer to 2 decimal places, eg. 15.25.) Manufacturing cost $ per unit 2 Prepare a normal-absorption-costing income statement for 2022 (Round per unit calculations to 2 decimal places, eg. 15.25 and final answers to decimal places, eg. 125) METLOCKCorp. Income Statement-Normal-Absorption Costing Production in units Sales in units $Step by Step Solution
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