Here it is. Sorry
Waterloo Storage Products makes a four-drawer plastic storage cabinet on casters meant for use in garages and workshops. Each cabinet sells for $54. Data for last year's operations follow: 21,200 19,600 1,600 Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per units Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative Total variable cost per unit 12 14 40 Fixed costs: Fixed manufacturing overhead Fixed selling and administrative Total fixed costs $ 84,500 119,500 $204,000 2. Assume that the company uses variable costing. Prepare a contribution format income statement for the year. (Do not leave any empty spaces; input a O wherever it is required.) $ 1,058,400 Variable Costing Income Statement Sales Variable expenses: Variable cost of goods sold: Variable cost of goods sold $ 627,200 Add: Variable manufacturing costs 627,200 627,200 627,200 431,200 Fixed expenses 0 $ 431,200 Baxtell Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations: Variable costs per uniti Manufacturing Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative Fixed costs per year Pixed manufacturing overhead Pixed selling and administrative expense 366,000 170,400 During the year, the company produced 36,600 units and sold 28,400 units. The selling price of the company's product is $82 per unit. 2. Assume that the company uses variable costing. a. Compute the unit product cost. Unit product cost S 55 b. Prepare an income statement for the year. (Do not leave any empty spaces; input a O wherever it is required.) Variable Costing Income Statement Variable expenses: Variable cost of goods sold Variable cost of goods sold 0 Fixed expenses: Operating income 2. Prepare an income statement for the year using variable costing. IDA SIDHA KARYA COMPANY Variable Costing Income Statement Variable expenses: Fixed expenses: Ida Sidha Karya Company is a family-owned company located in the village of Gianyar on the island of Ball in Indonesia. The company produces a handcrafted Balinese musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold to a Canadian importer for $920. Selected data for the company's operations last year follow: 0 275 260 15 Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead Fixed selling and administrative 110 $ 320 40 15 $77,000 $ 33,000 An absorption costing income statement prepared by the company's accountant appears below: $239,200 195,000 Sales Cost of goods sold Gross margin Selling and administrative expense Niet operating income 44,200 36,900 $ 7,300 Required: 1. Determine how much of the ending Inventory consists of fixed manufacturing overhead cost deferred in inventory to the next period. Total fixed manufacturing overhead in ending inventory
