Hey I need help figureing out parts 1a-1h in the attached photo. thank you!
Imperial Industnes has one product Information about the production and sales of that product for the past year follow (Click the icon to view the data) The company had no beginning inventory Read the requirements Data Table Imperial Industries Contribution Margin Income Statement (Variable Costing) For the Year Ended $ Selling price per unit 43.00 Sales revenue $ 516 000 Direct material per unit $ 15.00 Less Variable expenses Direct labor per unit. $ 4.00 Variable cost of goods sold 240,000 Total annual manufacturing overhead $ 180,000 Variable operating expenses 24.000 Fixed portion of annual manufacturing overhead . $ 165,000 Contribution margin 252,000 Variable operating expenses per unit sold .... $ 2.00 Less Fixed expenses Fixed operating expenses per year in total $ 45,000 Fixed manufacturing overhead 165,000 Units manufactured 15,000 Fixed operating expenses 45.000 Units sold 12,000 Operating income S 42,000 Print Use the statements you prepared to answer the following questions Done Ta. What is the product cost per unit using absorption costing? Enter any number in the edit fields and then click Check Answer Use the statements you prepared to answer the following questions: $ $ 1a. What is the product cost per unit using absorption costing? 1b. What is the product cost per unit using variable costing? 1c. What is the ending inventory balance using absorption costing? 1d. What is the ending inventory balance using variable costing? 1o. What is cost of goods sold using absorption costing? 17. What is cost of goods sold using variable sting? 1g. What is operating income using absorption costing? 1h. What is operating income using variable costing? $ $ Requirement 2. What is the underlying reason for the difference in operating income between the two costing costing generates a higher operating income. This is because under absorption costing