G M Bb I X M Bb UCSC LICSC HER + ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252... * Ch 6 HW - ACG3073 Saved Help Save & Exit Submit Check my work 12 Required information [The following information applies to the questions displayed below.] Part 1 of 2 Dowell Company produces a single product. Its income statements under absorption costing for its first two years of operation follow. 2018 2019 12 Sales ($46 per unit) $966, 000 $1, 886,000 points Cost of goods sold ($31 per unit) 651, 000 1,271, 000 Gross margin 315, 000 615, 000 Selling and administrative expenses 276, 750 311, 750 Net income $ 38, 250 $ 303, 250 eBook Print Additional Information References a. Sales and production data for these first two years follow. 2018 2019 Units produced 31,000 31, 000 Units sold 21, 000 41, 000 b. Variable cost per unit and total fixed costs are unchanged during 2018 and 2019. The company's $31 per unit product cost consists of the following. Mc Graw WechatIMG1365.jpeg WechatIMG1364.jpeg WechatIMG1363.jpeg ELWR Appeal Pa..odt XG M Bb I X M Bb UCSC LICSC HER + ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252... * Ch 6 HW - ACG3073 Saved Help Save & Exit Submit Check my work 12 UNTIL PIVUULL LUSI LUISISIS UI TIE IUIUWINy. Direct materials $ 5 Part 1 of 2 Direct labor Variable overhead Fixed overhead ($310, 000/31,000 units) 10 Total product cost per unit $31 12 points c. Selling and administrative expenses consist of the following. eBook Print 2018 2019 Variable selling and administrative expenses ($1.75 per unit) $ 36, 750 $ 71, 750 References Fixed selling and administrative expenses 240, 000 240 , 000 Total selling and administrative expenses $276, 750 $311, 750 1. Prepare income statements for the company for each of its first two years under variable costing. (Loss amounts should be entered with a minus sign.) DOWELL Company Variable Costing Income Statements 2018 2019 Mc Graw WechatIMG1365.jpeg A WechatIMG1364.jpeg WechatIMG1363.jpeg ELWR Appeal Pa..odt A XG M Bb 1 X M Bb UCSC LICSC HER + ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252... * S GA Ch 6 HW - ACG3073 i Saved Help Save & Exit Submit Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion. Return to question 12 1. Prepare income statements for the company for each of its first two years under variable costing. (Loss amounts should be entered with a minus sign.) Part 1 of 2 X Answer is not complete. 12 DOWELL Company points Variable Costing Income Statements 2018 2019 $ Sales $ 966,000 1,886,000 Less: Variable costs Direct materials 105,000 305,000 X Direct labor 168,000 328,000 Variable overhead 147,000 X 287,000 X Variable selling and administrative expenses Total variable costs 420,000 920,000 Contribution margin V Less: Fixed expenses Mc Graw WechatIMG1365.jpeg WechatIMG1364.jpeg WechatIMG1363.jpeg ELWR Appeal Pa..odt A X
