Bracey Company manufactures and sells one product. The following information pertains to the company's first year of operations: Variable cost per unit: Direct materials Fixed costs per year: Direct labor Fixed manufacturing overhead Fixed selling and administrative expenses $ 241,500 $ 319,200 $ 52,000 The company does not incur any variable manufacturing overhead costs or variable selling and administrative expenses. During its first year of operations, Bracey produced 21,000 units and sold 19,900 units. The selling price of the company's product is $52 per unit. Required: 1. Assume the company uses super-variable costing: a. Compute the unit product cost for the year. b. Prepare an income statement for the year. 2. Assume the company uses a variable costing system that assigns $11.50 of direct labor cost to each unit produced: 3. Compute the unit product cost for the year. b. Prepare an income statement for the year. 3. Assume the company uses an absorption costing system that assigns $11.50 of direct labor cost and $15.20 of fixed manufacturing overhead cost to each unit produced: a. Compute the unit product cost for the year. b. Prepare an income statement for the year. 2. Assume the company uses a variable costing system that assigns $11.50 of direct labor cost to each unit produced: a. Compute the unit product cost for the year. b. Prepare an income statement for the year. 3. Assume the company uses an absorption costing system that assigns $11.50 of direct labor cost and $15.20 of foed manufacturing overhead cost to each unit produced: a. Compute the unit product cost for the year. b. Prepare an income statement for the year. 4a. Reconcile the difference between the super-variable costing and Variable costing net operating incomes. 4b. Reconcile the difference between the super-variable costing and absorption costing net operating Incomes. Complete this question by entering your answers in the tabs below. Reg 1A Reg 1B Req 2A Reg 28 Req 3A Reg 38 Req 4A Reg 48 Compute the unit product cost for the year. Assume the company uses super variable costing. Unit product cost Prepare an income statement for the year. Assume the company uses super-variable costing Bracey Company Super-Variable Costing Income Statement Fixed expenses: Req 1A Req 1B Req 2A Reg 28 Req 3A Reg 38 Req 4A Req 48 Compute the unit product cost for the year. Assume the company uses a variable costing system that assians $11.50 of din Tabor cost to each unit produced. (Round your answer to 2 decimal places.). Unit product cost Req la Req 1B Req 2A Reg 28 Req 3A Req 38 Reg 4A Reg 45 Prepare an income statement for the year. Assume the company uses a variable costing system that assigns $11.50 of direct labor cost to each unit produced. (Round your intermediate calculations to 2 decimal places. Bracey Company Variable Costing Income State+nt Food expenses Reg 18 Req ZA Req1A Req 25 R Rey SA 3D NGYA Prepare an income statement for the year. Assume the company uses an absorption costing system that assigns $11.50 of direct labor cost and $15.20 of fixed manufacturing overhead cost to each unit produced. (Round your intermediate calculations to 2 decimal places.) Bracey Company Absorption Conting Income Statement Req 1A Req 18 Req 2A Req 2B Req 3A Req 38 R0q38 Regan Req 4A Regao Reg 48 Reconcile the difference between the super-variable costing and variable costing net operating incomes. Super variable costing net operating income (loss) Variable costing net operating income (loss) Reconcile the difference between the super-variable costing and absorption costing net operating Incomes Super-variable costing net operating income (loss) Absorption costing net operating income (loss)
