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Concord Company builds custom fishing lures for sporting goods stores. In its first year of operations. 2020, the company incurred the following costs Variable Costs
Concord Company builds custom fishing lures for sporting goods stores. In its first year of operations. 2020, the company incurred the following costs Variable Costs per Unit Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses $10.05 $4.62 $7.77 $5.23 Fixed Costs per Year Fixed manufacturing overhead Fixed selling and administrative expenses $311,550 $281.534 Concord Company sells the fishing lures for $33.50. During 2020, the company sold 81.000 lures and produced 93.000 lures. Assuming the company uses variable costing, calculate Concord's manufacturing cost per unit for 2020. (Round answer to 2 decimal places, e.g. 10.50.) $ Manufacturing cost per unit Prepare a variable costing income statement for 2020 (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses es. (451) $ $ > $ Assuming the company uses absorption costing, calculate Concord's manufacturing cost per unit for 2020. (Round answer to 2 decimal places, eg. 10.50.) Manufacturing cost per unit Prepare an absorption costing income statement for 2020. (Enter negative amounts using either a negative sign preceding the number eg.-45 or parentheses e.g. (45)) $ $ $
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