Can you please help me understand how to calculate period cost incurred, total variable cost, contribution margin and the actual total fixed manufacturing overhead cost for this problem.
Thunderduck Custom Tables, Inc. Thunderduck Custom Tables, Inc. Thunderduck Custom Tables, Inc. Schedule of costof goods manufactured Costof goods sold Income Statement For the month Ended December 31, 20XX For the month Ended December 31, 20XX For the month Ended December 31, 20XX Beginning Raw Materials SO Beginning Finished Goods Sales $34,000 Add: Purchase of Raw Materi $29,000 Add: Cost of Goods Manufactu $10,810 Less: Cost of Goods Sold $12,510 Available for use $29,000 Cost of Goods Available for Si $10,810 Gross Margin $21, 490 Less: Ending Raw Materials $13,910 Less: Ending Finished Goods SO Selling & Admin Expense Raw Materials Used $15,090 Unadjusted Cost of Goods Sold $10,810 Salaries and Wages Expe $2,000 Less: Indirect Materials 50 Add: Underapplied MOH $1,700 Advertising Expense $1, 400 Direct Materials Used $15,090 Adjusted Cost of Goods Sold $12,510 Depreciation Expense $600 Direct Labor $315 Total Sells & Admin $4,000 MOH Applied $4,950 Net Income $17,490 Total Manufactoring Cost $20,355 Add: Beginning Work in Pro SO $20,355 Less: Ending Work in Proces 59.545 Cost of Goods Manufactured $10,810Account Receivables Accounts Payable Sales Revenue Dec. 28 $ 34,000 29,000 Dec. 1 $ 34,000 Dec. 28 1,500 Dec. 16 1,400 Dec. 17 31,900 Raw Materials Salaries and Wages Payable Dec. 1 29,000 $ 7,300 Dec. 5 7,210 Dec. 10 7,790 Dec. 15 105 Dec. 31 Cost of Goods Sold $ 29,000 $ 15,090 7,315 Dec. 28 $ 10,810 13,910 Dec. 31 S 1,700 $ 12,510 Work In Process Dec. 7,300 $ 10,810 Dec. 26 Salaries and Wages Expense Dec. 10 210 Dec. 10 $ 2,000 Dec. 15 7,790 Dec. 22 3,300 Dec. 3: 105 Dec. 31 1,650 20,355 $ 10,810 9,545 Finished Good Dec. 26 $ 10,810 $ 10,810 Dec. 28 Advertising Expense Dec. 17 $ 1,400 Depreciation Expense Manufacturing Overhead Dec. 20 $ 600 Dec. 10 5,000 3,300 Dec. 22 Dec. 16 1,500 1,650 Dec. 31 Dec. 20 150 6,650 4,950 1,700 Accumulated Depreciation $ 750 Dec. 20Job Cost Sheet Job Number #1 Date Initiated Item Date completed Direct Matarials Direct Labor Manufacturing Overhead Amount Hours Rate Amount Hours Rate Amount S 7,300 6 35 210 6 $550.00 $3,300.00 Cost Summary Direct Materials S 7,300.00 Direct Labor S 210.00 Manufacturing Overhead S 3,300.00 Total Product Cost S 10,810.00 Unit Product Cost S 10,810.00