Homework: Chapter M:6 Homework Question 2, EM6-16 (similar to) > Part 1 of 2 HW Score: 0%, 0 of 5 points Points: 0 of 1 Save VitaSport produced 8,000 cases of powdered drink mix and sold 5,000 cases in April. The sales price was $28, variable costs were $10 per case ($8 manufacturing and $2 selling and administrative), and total fixed costs were $70,000 ($56,000 manufacturing overhead and $14,000 selling and administrative). The company had no beginning Finished Goods Inventory. Read the requirements. Question list K Question 1 Question 2 Question 3 Question 4 Question 5 ... Requirement 1. Prepare the April income statement using variable costing. VitaSport Income Statement (Variable Costing) Month Ended April 30 Operating Income Help me solve this Demodocs example Get more help Requirements 1. Prepare the April income statement using variable costing. 2. Determine the product cost per unit and the total cost of the 3,000 cases in Finished Goods Inventory as of April 30. Homework: Chapter M:6 Homework Question 3, EM6-20 (similar to) Part 1 of 3 > HW Score: 40%, 2 of 5 points O Points: 0 of 1 Save |- In May, RefreshAde produced 14,000 cases of powdered drink mix and sold 15,000 cases, of which 1,000 were produced in April. The total April production was 15,000. The sales price was $24, variable costs were $10 per case ($8 manufacturing and $2 selling and administrative), and total fixed costs were $80,000 ($56,000 manufacturing and $24,000 selling and administrative). RefreshAde's May income statement using variable costing follows: (Click the icon to view the variable costing income statement.) Read the requirements. Requirement 1. Prepare the May income statement using absorption costing. RefreshAde Income Statement (Absorption Costing) Month Ended May 31 Requirements 1. Prepare the May income statement using absorption costing. 2. Is operating income using absorption costing higher or lower than variable costing income? Explain why. 3. Determine the balance in Finished Goods Inventory as of May 31. Reference RefreshAde Income Statement (Variable Costing) Month Ended May 31 Net Sales Revenue 360,000 Variable Costs: Variable Manufacturing Overhead $ 120,000 30,000 150,000 Variable Selling and Administrative Costs Contribution Margin 210,000 Fixed Costs: Fixed Manufacturing Overhead 56,000 Fixed Selling and Administrative Costs Operating Income 24,000 $ 80,000 130,000 Print Done Homework: Chapter M:6 Homework Minute Company reports the following information for March: (Click the icon to view the data.) Read the requirements. Question 1, EM6-13 (similar to) > Part 1 of 2 HW Score: 40%, 2 of 5 points O Points: 0 of 1 Save Requirement 1. Calculate the gross profit and operating income for March using absorption costing. Minute Company Income Statement (Absorption Costing) For the Month Ended March 31 Operating Income Help me solve this Demodocs example Get more help Data table Net Sales Revenue $ 82,450 Variable Cost of Goods Sold 21,700 Fixed Cost of Goods Sold 13,500 Variable Selling and Administrative Costs Fixed Selling and Administrative Costs 11,500 3,500 Requirements Print Done 1. Calculate the gross profit and operating income for March using absorption costing. 2. Calculate the contribution margin and operating income for March using variable costing. -