Answer what you can please, I'll be grateful.
[The following information applies to the questions displayed below.) Jorgansen Lighting, Inc., manufactures heavy-duty street lighting systems for municipalities. The company uses variable costing for internal management reports and absorption costing for external reports to shareholders, creditors, and the government. The company has provided the following data: Year 1 Year 2 Year 3 Inventories Beginning (units) Ending (units) Variable costing net operating income 210 170 $290,000 170 190 $ 269,000 190 230 $250,000 The company's fixed manufacturing overhead per unit was constant at $550 for all three years. Exercise 6-3 Part 2 2. Assume in Year 4 that the company's variable costing net operating income was $250,000 and its absorption costing net operating income was $290,000. a. Did inventories increase or decrease during Year 4? O Increase O Decrease b. How much fixed manufacturing overhead cost was deferred or released from inventory during Year 4? Fixed manufacturing overhead cost inventory during Year 4 Exercise 6-3 Reconciliation of Absorption and Variable Costing Net Operating Incomes (LO6-3) (The following information applies to the questions displayed below.) Jorgansen Lighting, Inc., manufactures heavy-duty street lighting systems for municipalities. The company uses variable costing for internal management reports and absorption costing for external reports to shareholders, creditors, and the government. The company has provided the following data: Year 1 Year 2 Year 3 Inventories Beginning (units) Ending (units) Variable costing net operating income 210 170 $ 290,000 170 190 $269,000 190 230 $250,000 The company's fixed manufacturing overhead per unit was constant at $550 for all three years. Exercise 6-3 Part 1 Required: 1. Calculate each year's absorption costing net operating income. (Enter any losses or deductions as a negative value.) Reconciliation of Variable Costing and Absorption Costing Net Operating Incomes Year 1 Year 2 Year 3 Variable costing net operating income Add (deduct) fixed manufacturing overhead deferred in (released from) inventory under absorption costing Absorption costing net operating income Royal Lawncare Company produces and sells two packaged productsWeedban and Greengrow. Revenue and cost information relating to the products follow: Selling price per unit Variable expenses per unit Traceable fixed expenses per year Product Weedban Greengrow s 11.00 $ 30.00 $ 2.80 $ 14.00 $ 133,000 $ 35,000 Common fixed expenses in the company total $113,000 annually. Last year the company produced and sold 36,500 units of Weedban and 23,500 units of Greengrow. Required: Prepare a contribution format income statement segmented by product lines. Product Line Total Company Weedban Greengrow
