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Accounting help. Everything with a question mark needs to be solved. If you could please tell me how you figured it out, I'd greatly appreciate
Accounting help. Everything with a question mark needs to be solved. If you could please tell me how you figured it out, I'd greatly appreciate it! You can use Excel and just show the calls/formulas, if you prefer. Thank you!
Data | ||||
Selling price per unit | $50 | |||
Manufacturing costs: | ||||
Variable per unit produced: | ||||
Direct materials | $11 | |||
Direct labor | $6 | |||
Variable manufacturing overhead | $3 | |||
Fixed manufacturing overhead per year | $120,000 | |||
Selling and administrative expenses: | ||||
Variable per unit sold | $4 | |||
Fixed per year | $70,000 | |||
Year 1 | Year 2 | |||
Units in beginning inventory | 0 | |||
Units produced during the year | 10,000 | 6,000 | ||
Units sold during the year | 8,000 | 8,000 | ||
Enter a formula into each of the cells marked with a ? below | ||||
Review Problem 1: Contrasting Variable and Absorption Costing | ||||
Compute the Ending Inventory | ||||
Year 1 | Year 2 | |||
Units in beginning inventory | 0 | ? | ||
Units produced during the year | ? | ? | ||
Units sold during the year | ? | ? | ||
Units in ending inventory | ? | ? | ||
Compute the Absorption Costing Unit Product Cost | ||||
Year 1 | Year 2 | |||
Direct materials | ? | ? | ||
Direct labor | ? | ? | ||
Variable manufacturing overhead | ? | ? | ||
Fixed manufacturing overhead | ? | ? | ||
Absorption costing unit product cost | ? | ? | ||
Construct the Absorption Costing Income Statement | ||||
Year 1 | Year 2 | |||
Sales | ? | ? | ||
Cost of goods sold | ? | ? | ||
Gross margin | ? | ? | ||
Selling and administrative expenses | ? | ? | ||
Net operating income | ? | ? | ||
Compute the Variable Costing Unit Product Cost | ||||
Year 1 | Year 2 | |||
Direct materials | ? | ? | ||
Direct labor | ? | ? | ||
Variable manufacturing overhead | ? | ? | ||
Variable costing unit product cost | ? | ? | ||
Construct the Variable Costing Income Statement | ||||
Year 1 | Year 2 | |||
Sales | ? | ? | ||
Variable expenses: | ||||
Variable cost of goods sold | ? | ? | ||
Variable selling and administrative expenses | ? | ? | ? | ? |
Contribution margin | ? | ? | ||
Fixed expenses: | ||||
Fixed manufacturing overhead | ? | ? | ||
Fixed selling and administrative expenses | ? | ? | ? | ? |
Net operating income | ? | ? |
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