GGRB manufactures snowboards. GGRB began 2020 with an inventory of 300 boards. During the year, it...

Transcribed Image Text:

GGRB manufactures snowboards. GGRB began 2020 with an inventory of 300 boards. During the year, it produced 1,300 boards and sold 1.020 for $730 each. Fixed production costs were $221,000, and variable production costs were $220 per unit. Fixed advertising, marketing, and other general and administrative expenses were $120,000, and variable shipping costs were $17 per board. Assume that the cast of each unit in beginning inventory is equal to 2020 inventory cost. GGRB uses a denominator level of 1,300 units Requirement 1. Prepare an income statement assuming GGRB uses variable costing. Complete the top half of the income statement first, then complete the bottom portion. (Use parentheses or a minua sign for an operating loss.) Requirements 1. Prepare an income statement assuming GCRB uses variable cosing. 2. Prepare an income statement assuming GGRB uses absorption costing Production-volume variances are written off to cost of goods sold. 3. Compute the breakeven point in units sold sasuming GORA uses the following methods. Provide proof of your breakeven calculations. a. Variable cosing b. Absorption coeling Print Done Requirement 2. Prepare an income statement assuming CGRB uses absorption costing. GGRB uses a denominator level of 1,300 units. Production-volume variances are written off to cost of goods sold. Complete the top half of the income statement first, then complete the bottom portion. (Do not round intermediary calculations. Only round the amount you input in the call to the nearest dollar. Use parentheses or a minus sign for an operating loss.) - X GGRB manufactures snowboards. GGRB began 2020 with an inventory of 300 boards. During the year, it produced 1,300 boards and sold 1.020 for $730 each. Fixed production costs were $221,000, and variable production costs were $220 per unit. Fixed advertising, marketing, and other general and administrative expenses were $120,000, and variable shipping costs were $17 per board. Assume that the cast of each unit in beginning inventory is equal to 2020 inventory cost. GGRB uses a denominator level of 1,300 units Requirement 1. Prepare an income statement assuming GGRB uses variable costing. Complete the top half of the income statement first, then complete the bottom portion. (Use parentheses or a minua sign for an operating loss.) Requirements 1. Prepare an income statement assuming GCRB uses variable cosing. 2. Prepare an income statement assuming GGRB uses absorption costing Production-volume variances are written off to cost of goods sold. 3. Compute the breakeven point in units sold sasuming GORA uses the following methods. Provide proof of your breakeven calculations. a. Variable cosing b. Absorption coeling Print Done Requirement 2. Prepare an income statement assuming CGRB uses absorption costing. GGRB uses a denominator level of 1,300 units. Production-volume variances are written off to cost of goods sold. Complete the top half of the income statement first, then complete the bottom portion. (Do not round intermediary calculations. Only round the amount you input in the call to the nearest dollar. Use parentheses or a minus sign for an operating loss.) - X