Answered step by step
Verified Expert Solution
Question
1 Approved Answer
could you teach me how to solve these. 1. (10 points) Penny Black Ltd., which has only one product, has provided the following data concerning
could you teach me how to solve these.
1. (10 points) Penny Black Ltd., which has only one product, has provided the following data concerning its most recent month of operations Selling price $104 Units in beginning inventorv Units produced Units sold Units in ending inventorv 27,000 21,000 6,000 Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative $32 $23 $8 $5 Fixed costs Fixed manufacturing overhead Fixed selling and administrative $270,000 $150,000 Required a. What is the unit product cost for the month under variable costing? b. What is the unit product cost for the month under absorption costing? c. Prepare an income statement for the month using the contribution format and the variable costing method Prepare an income statement for the month using the traditional format and the absorption costing method. dStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started