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I have to use the information given in the first picture to fill out the chart See Absorption vs Variable Costing Daily Activity Rainbow Concrete
I have to use the information given in the first picture to fill out the chart
See Absorption vs Variable Costing Daily Activity Rainbow Concrete Corporation has provided the following data for its two most recent years of operation: Selling price per unit S88 18 Manufacturing costs: Variable manufacturing cost per unit produced: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead per year Selling and administrative expenses: Variable selling and administrative expense per unit sold Fixed selling and administrative expense per year 360,000 74,000 Units in beginning inventory Units produced during the year Units sold during the year Units in ending inventory Year 1 0 15,000 10,000 5,000 Year 2 5.000 12,000 15,000 2,000 Complete (a) through (a). Assume the company uses absorption costing. Compute the unit product cost in each year. Year 1 Year 2 (b). Assume the company uses absorption costing. Prepare an income statement for each year. Year 1 Year 2 c. Assume the company uses variable costing. Compute the unit product cost in each year. Year 1 Year 2 d. Assume the company uses variable costing. Prepare an income statement for each year. Year 1 Year 2 . Prepare a report in good form reconciling the variable costing and absorption costing net incomes. Year 1 Year 2 Year 1 Year 2Step by Step Solution
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