ClearView Corporation manufactures and sells 50-inch television sets and uses standard costing. Actual data relating to January, February, and March
2017
are as follows:
(Click to view the data.) Read the requirements. Requirement 1. Prepare income statements for ClearView in January, February, and March 2017 under (a) variable costing and (b) absorption costing. (a). Prepare income statements for Clear View in January, February, and March of 2017 under variable costing. Complete the top half of the income statement for each month first, then complete the bottom portion. (Complete all answer boxes. Enter a "0" for any zero balance accounts. January 2017 February 2017 March 2017 complete the top half of the income statement for each month first sbal Abbreviation used: Adj= Adjustment, M en complete the bottom portion. (Enter a "O" for any zero balance accounts. Label any variances as favorable (F) or unfavorable ( Begin by preparing a numerical reconciliation and explanation of the difference between operating income for each month under variable costing and absorption costing. Determine the formula that will highlight the difference between the operating income under each method. Then complete the equation for each month. (Enter an amount in each input cell and enter a "0" for any zero balances. Abbreviations used: Beg. = beginning, End. = ending, Mfg. = Manufacturing, and Var. = Variable.) Absorption-costing Variable-costing operating income operating income II Jan Feb = Mar = The difference between absorption and variable costing is due solely to moving into inventories as inventories and out of inventories as they Clearview Corporation manufactures and sells 50-inch television sets and uses standard costing. Actual data relating to January February, and March 2017 are as follows: (Click to view the data) The selling price per unit is $3.900. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 1,000 units. There are no price, efficiency, or spending variances. Any production-volume variance is written off to cost of goods sold in the month in which it occurs. Read the requirements. i Data Table - X January February March 0 100 Requirement 2. Explain the difference in upealing income for Janu 100 Unit data: Beginning inventory Production Sales 1,000 975 1.020 Begin by preparing a numerical reconcilation and explanation of the under each method. Then complete the equation for each month. 900 975 1.045 Determine the formula that will highlight the difference between the operating Income Eginning, End. = ending, Mig. - Manufacturing, and Var. = Variable. Absorption-costing Variable costing Operating income - Operating income = Variable costs: Manufacturing xxl por unil produced Operating marketing) cost per unit sold 700 3 700 700 5 475 3 $ 475 $ 475 Jan Fixed costs. Feb Mar $ 480,000 | Manufacturing costs Operating markets 190,000 $ 480,000 $ 100.000 $ 180,00 $ $ 180,000 The difference between absorption and variable costing is die solel ntories as they Print Done Choose from any list or enter any number in the input fields and (Click to view the data.) Read the requirements. Requirement 1. Prepare income statements for ClearView in January, February, and March 2017 under (a) variable costing and (b) absorption costing. (a). Prepare income statements for Clear View in January, February, and March of 2017 under variable costing. Complete the top half of the income statement for each month first, then complete the bottom portion. (Complete all answer boxes. Enter a "0" for any zero balance accounts. January 2017 February 2017 March 2017 complete the top half of the income statement for each month first sbal Abbreviation used: Adj= Adjustment, M en complete the bottom portion. (Enter a "O" for any zero balance accounts. Label any variances as favorable (F) or unfavorable ( Begin by preparing a numerical reconciliation and explanation of the difference between operating income for each month under variable costing and absorption costing. Determine the formula that will highlight the difference between the operating income under each method. Then complete the equation for each month. (Enter an amount in each input cell and enter a "0" for any zero balances. Abbreviations used: Beg. = beginning, End. = ending, Mfg. = Manufacturing, and Var. = Variable.) Absorption-costing Variable-costing operating income operating income II Jan Feb = Mar = The difference between absorption and variable costing is due solely to moving into inventories as inventories and out of inventories as they Clearview Corporation manufactures and sells 50-inch television sets and uses standard costing. Actual data relating to January February, and March 2017 are as follows: (Click to view the data) The selling price per unit is $3.900. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 1,000 units. There are no price, efficiency, or spending variances. Any production-volume variance is written off to cost of goods sold in the month in which it occurs. Read the requirements. i Data Table - X January February March 0 100 Requirement 2. Explain the difference in upealing income for Janu 100 Unit data: Beginning inventory Production Sales 1,000 975 1.020 Begin by preparing a numerical reconcilation and explanation of the under each method. Then complete the equation for each month. 900 975 1.045 Determine the formula that will highlight the difference between the operating Income Eginning, End. = ending, Mig. - Manufacturing, and Var. = Variable. Absorption-costing Variable costing Operating income - Operating income = Variable costs: Manufacturing xxl por unil produced Operating marketing) cost per unit sold 700 3 700 700 5 475 3 $ 475 $ 475 Jan Fixed costs. Feb Mar $ 480,000 | Manufacturing costs Operating markets 190,000 $ 480,000 $ 100.000 $ 180,00 $ $ 180,000 The difference between absorption and variable costing is die solel ntories as they Print Done Choose from any list or enter any number in the input fields and
