EntertainMe

EntertainMe Corporation manufactures and sells?50-inch television sets and uses standard costing. Actual data relating to?January, February, and March 2017

2017 are as?follows:

EntertainMe Corporation manufactures and sells 50-inch television sets and uses The selling price per unit is $3,300. The budgeted level of production used to standard costing. Actual data relating to January, February, and March 2017 are calculate the budgeted xed manufacturing cost per unit is 1,500 units. There are as follows: no price, efciency, or spending variances. Any production-volume variance is written off to cost of goods sold in the month in which it occurs. a (Click to view the data.) Read the @uirements. Requirement 1. Prepare income statements for EntertainMe in January, February, and March 2017 under (a) variable costing and (b) absorption costing. (a). Prepare income statements for EntertainMe in January, February, and March of 2017 under variable costing. Complete the top half of the income statement for each month rst, then complete the bottom portion. (Complete all answer boxes. Enter a "0" for any zero balance accounts.) January 2017 February 2017 March 2017 Revenues $ 4,455,000 $ 4,620,000 $ 5,049,000 Variable cost of goods sold: Beginning inventory :l :l |:| Variable manufacturing costs 1500300 1400300 1,520,000 Cost of goods available for sale 1 ,500,000 1 550,000 1 ,670,000 Deduct ending inventory (150,000) (150,000) (140,000) Variable cost of goods sold 1,350,000 1,400,000 1,530,000 ;; I I lI lI lI January February March Unit data: Beginning inventory 0 150 150 Production 1,500 1 ,400 1,520 Sales 1,350 1,400 1,530 Variable costs: Manufacturing cost per unit produced 1,000 $ 1,000 $ 1,000 Operating (marketing) cost per unit sold 800 $ 800 $ 800 Fixed costs: Manufacturing costs 525,000 $ 525,000 $ 525,000 Operating (marketing) costs 130,000 $ 130,000 $ 130,000