Cool Sky reports the following for its first year of operations. The company produced 42,000 units and sold 34,000 units at a price of $140 per unit Direct materials Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses $ 60 per unit $ 22 per unit $8 per unit $ 504,000 per year $ 11 per unit $ 115,000 per year Exercise 6-3 (Algo) Part 1a ta. Assume the company uses absorption costing. Determine its total product cost per unit. Absorption costing 5 60 Per unit product cost using Direct materials Direct labor Fixed overhead Variable overhead 22 Total product cost per unit $ 82 Required information Exercise 6-3 (Algo) Income statement under absorption costing and variable costing LO P1, P2 {The following information applies to the questions displayed below.) Cool Sky reports the following for its first year of operations. The company produced 42,000 units and sold 34,000 units at a price of $140 per unit. Direct materials Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses $ 68 per unit $ 22 per unit $ 8 per unit $ 584,000 per year $ 11 per unit $ 115,000 per year Exercise 6-3 (Algo) Part 1b 16. Assume the company uses absorption costing. Prepare its income statement for the year under absorption costing. Income Statement (Aheorption Costing) 0 S 0 Required information Exercise 6-3 (Algo) Income statement under absorption costing and variable costing LO P1, P2 The following information applies to the questions displayed below.) Cool Sky reports the following for its first year of operations. The company produced 42,000 units and sold 34,000 units at a price of $140 per unit. Direct materials Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses $ 60 per unit $ 22 per unit $ 8 per unit $ 504,000 per year $ 11 per unit $ 115,000 per year Exercise 6-3 (Algo) Part 2a 2a. Assume the company uses variable costing. Determine its total product cost per unit. Per unit product cost using Variable coating es Total product cost per unit 14 Required information Exercise 6-3 (Algo) Income statement under absorption costing and variable costing LO P1, P2 The following information applies to the questions displayed below) Cool Sky reports the following for its first year of operations. The company produced 42.000 units and sold 34,000 units ot a price of 5140 per unit Direct materials 160 Direct latior 22 per mit Variable overhead 50 per unit Fixed overhead $504,000 per year Variable selling and administrative expenses $ 11 per unit Fixed selling and administrative expenses $ 115,000 per year per unit Exercise 6-3 (Algo) Part 2b 2b. Assume the company uses variable costing. Prepare its income statement for the year under variable costing Wine Income Statement Variable Coatings
