ExerAde produced 13,000 cases of powdered drink mix and sold 12,000 cases in April 2018. The sales price was $27, variable costs were $8 per case ($6 manufacturing and $2 selling and administrative), and total fixed costs were $100,000 ($91,000 manufacturing overhead and $9,000 selling and administrative). The company had no beginning Finished Goods Inventory. Read the requirements. Requirement 1. Prepare the April income statement using variable costing. ExerAde i Requirements - X Income Statement (Variable Costing) Month Ended April 30, 2018 Net Sales Revenue 1. Prepare the April income statement using variable costing. 2. Determine the product cost per unit and the total cost of the 1,000 cases in Finished Goods Inventory as of April 30. Print Done Choose from any list or enter any number in the input fields and then click Check Answer. ? part emaining Clear All Check AnswerReplenAde produced 15,000 cases of powdered drink mix and sold 13,000 cases in April 2018. The sales price was $25, variable costs were $10 per case ($8 manufacturing and $2 selling and administrative), and total fixed costs were $70,000 ($45,000 manufacturing overhead and $25,000 selling and administrative). The company had no beginning Finished Goods Inventory. The company had the following results using variable costing: (Click the icon to view the data using variable costing.) Read the requirements. Requirement 1. Prepare the April income statement using absorption costing - X i Requirements . X i Reference Variable 1. Prepare the April income statement using absorption costing Costing 2. Determine the product cost per unit and the total cost of the 2,000 cases in Finished Goods Inventory as of April 30. Total product cost per unit $ 8.00 3. Is the April 30 balance in Finished Goods Inventory higher or lower than Cost of Finished Goods Inventory as of April 30, 2018 $ 16,000 variable costing? Explain why. Print Done Print Done Choose from any list or enter any number in the input fields and then click Check Answer. (? 2 parts remaining Clear All Check AnswerIn May 2018, Limonade produced 13,000 cases of powdered drink mix and sold 14,000 cases, of which 1,000 were produced in April. The sales price was $28, variable costs were $14 per case ($10 manufacturing and $4 selling and administrative), and total fixed costs were $100,000 ($91,000 manufacturing and $9,000 selling and administrative). Read the requirements. Requirement 1. Prepare the May income statement using variable costing. Requirements - X 1. Prepare the May income statement using variable costing. 2. Determine the balance in Finished Goods Inventory as of May 31. Print Done Choose from any list or enter any number in the input fields and then click Check Answer. (? 1 part remaining Clear All Check AnswerIn May 2018, VitaSport produced 12,000 cases of powdered drink mix and sold 15,000 cases, of which 3,000 were produced in April. The total April production was 10,000. The sales price was $26, variable costs were $9 per case ($7 manufacturing and $2 selling and administrative), and total fixed costs were $90,000 ($72,000 manufacturing and $18,000 selling and administrative). VitaSport's May income statement using variable costing follows: i Reference - X i Requirements - X Vita Sport Income Statement (Variable Costing) Month Ended May 31, 2018 1. Prepare the May income statement using absorption costing. 2. Is operating income using absorption costing higher or lower than variable Net Sales Revenue $ 390,000 costing income? Explain why. Variable Costs: 3. Determine the balance in Finished Goods Inventory as of May 31. Variable Manufacturing Overhead $ 105,000 Variable Selling and Administrative Costs 30,000 135,000 Print Done Contribution Margin 255,000 Fixed Costs: Fixed Manufacturing Overhead 72,000 Fixed Selling and Administrative Costs 18,000 90,000 $ 165,000 Operating Income Clear All Check
