During 2022, Shamrock Corp. produced 32,970 units and sold 32,970 for $16.00 per unit. Variable manufacturing costs were $5.00 per unit. Annual fixed manufacturing overhead was $65,940 ($2.00 per unit). Variable selling and administrative costs were $2.00 per unit sold, and fixed selling and administrative expenses were $28,260. Suppose the accountant for Shamrock Corp. uses normal-absorption costing and uses the budgeted volume of 47,100 units to allocate the fixed overhead rather than the actual production volume of 32,970 units. The company expenses production volume variance to cost of goods sold in the accounting period in which it occurs.

(a) Calculate the manufacturing cost per unit. (Round answer to 2 decimal places, e.g. 5.25.) Manufacturing cost $enter the manufacturing cost per unit in dollars rounded to 2 decimal places per unit

(b)

Prepare a normal-absorption-costing income statement for the first year of operation.

ShamrockCorp. Income StatementNormal-Absorption Costing choose the accounting period December 31, 2022For the Month Ended December 31, 2022For the Year Ended December 31, 2022
select an income statement item Volume varianceGross marginSalesEnding inventoryCosts of goods manufacturedBeginning inventoryVariable costsContribution marginFixed costsOperating incomeCost of goods soldSelling and administrative expenses				$enter a dollar amount
select an opening section name Fixed costsBeginning inventorySelling and administrative expensesContribution marginGross marginSalesVolume varianceCost of goods soldOperating incomeCosts of goods manufacturedEnding inventoryVariable costs:
select an income statement item Gross marginOperating incomeEnding inventoryContribution marginSalesFixed costsCosts of goods manufacturedVolume varianceSelling and administrative expensesVariable costsCost of goods soldBeginning inventory		$enter a dollar amount
select between addition and deduction AddLess: select an income statement item Beginning inventoryOperating incomeGross marginEnding inventorySelling and administrative expensesVolume varianceVariable costsCosts of goods manufacturedCost of goods soldFixed costsContribution marginSales		enter a dollar amount
select a closing section name Operating incomeGross marginCost of goods soldFixed costsVolume varianceSalesEnding inventoryCosts of goods manufacturedVariable costsSelling and administrative expensesBeginning inventoryContribution margin		enter a total amount for this section
select between addition and deduction AddLess: select an income statement item Cost of goods soldSalesCosts of goods manufacturedVolume varianceContribution marginVariable costsBeginning inventoryEnding inventoryOperating incomeFixed costsSelling and administrative expensesGross margin		enter a dollar amount		enter a subtotal of the two previous amounts
select a summarizing line for the first part SalesContribution marginFixed costsGross marginOperating incomeCosts of goods manufacturedBeginning inventoryVolume varianceEnding inventorySelling and administrative expensesVariable costsCost of goods sold				enter a total amount for the first part
select between addition and deduction AddLess: select an income statement item Gross marginSalesVariable costsBeginning inventorySelling and administrative expensesEnding inventoryVolume varianceFixed costsOperating incomeContribution marginCosts of goods manufacturedCost of goods sold				enter a dollar amount
select a closing name for this statement Ending inventoryCosts of goods manufacturedSalesVolume varianceVariable costsBeginning inventoryGross marginCost of goods soldContribution marginFixed costsSelling and administrative expensesOperating income				$enter a total amount for this statement