Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $814. Selected data for the company's operations last year follow: Units in beginning inventory 0 Units produced 12,000 Units sold 9,000 Units in ending inventory 3,000 Variable costs per unit: Direct materials $ 170 Direct labor 5 370 Variable manufacturing overhead S 60 Variable selling and administrative $ 24 Fixed costs: Fixed manufacturing overhead $ 890,000 Fixed selling and administrative $ 540,000 Required: 1. Assume that the company uses absorption costing. Compute the unit product cost for one gamelan. (Round your intermediate calculations and final answer to the nearest whole dollar amount.) 2. Assume that the company uses variable costing. Compute the unit product cost for one gamelan. 1. Absorption costing unit product cost 2. Variable costing unit product cost Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $950. Selected data for the company's operations last year follow: Units in beginning inventory 0 Units produced 250 Units sold 230 Units in ending inventory 20 Variable costs per unit: Direct materials 3 125 Direct labor $ 335 Variable manufacturing overhead $ 55 Variable selling and administrative $ 30 Fixed costs: Fixed manufacturing overhead $ 75,000 Fixed selling and administrative $ 15,000 The absorption costing income statement prepared by the company's accountant for last year appears below: Sales $ 218,500 Cost of goods sold 187,450 Gross margin 31,050 Selling and administrative expense 21,900 Net operating income 3 9,150 Required: 1. Under absorption costing, how much xed manufacturing overhead cost is included in the company's inventory at the end of last year? 2. Prepare an income statement for last year using variable costing. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of last year? Required 2 > Ida Company produces a handcrafted musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $950. Selected data for the company's operations last year follow: Units in beginning inventory 0 Units produced 250 Units sold 230 Units in ending inventory 20 Variable costs per unit: Direct materials 5 125 Direct labor $ 335 Variable manufacturing overhead $ 55 Variable selling and administrative $ 30 Fixed costs: Fixed manufacturing overhead $ 75,000 Fixed selling and administrative $ 15,000 The absorption costing income statement prepared by the company's accountant for last year appears below: Sales $ 218,500 Cost of goods sold 187,450 Gross margin 31,050 Selling and administrative expense 21,900 Net operating income $ 9,150 Required: 1. Under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of last year? 2. Prepare an income statement for last year using variable costing. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required information [The following information applies to the questions displayed below. J Jorgansen Lighting, Incorporated, manufactures heavy-duty street lighting systems for municipalities. The company uses variable costing for internal management reports and absorption costing for external reports to shareholders, creditors, and the government. The company has provided the following data: Year 1 Year 2 Year 3 Inventories Beginning (units) 200 150 180 Ending (units) 150 180 240 Variable costing net operating income $ 300,000 S 279,000 $ 250,000 The compa ny's fixed manufacturing overhead per unit was constant at $560 for all three years. Required: 1. Calculate each year's absorption costing net operating income. (Enter any losses or deductions as a negative value.) Variable costing net operating income Add (deduct) fixed manufacturing overhead deterred in (released from) inventory under absorption costing Absorption costing net operating income Required information [The following information applies to the questions displayed below. ] Jorgansen Lighting, Incorporated, manufactures heavyduty street lighting systems for municipalities. The company uses variable costing for internal management reports and absorption costing for external reports to shareholders, creditors, and the government. The company has provided the following data: Year 1 Year 2 Year 3 Inventories Beginning (units) 200 150 180 Ending (units) 150 180 240 Variable costing net operating income $ 300,000 $ 279,000 $ 250,000 The company's fixed manufacturing overhead per unit was constant at $560 for all three years. 2' Assume in Year 4 that the company's variable costing net operating income was $250,000 and its absorption costing net operating income was $310,000. a. Did inventories increase or decrease during Year 4? 0 Increase O Decrease b. How much xed manufacturing overhead cost was deferred or released from inventory during Year 4? Royal Lawncare Company produces and sells two packaged productsWeedban and Greengrow. Revenue and cost information relating to the products follow: Product Weedban Greengrow Selling price per unit $ 10.00 $ 38.00 Variable expenses per unit $ 2.70 $ 13.00 Traceable fixed expenses per year $ 129,000 $ 40,000 Last year the company produced and sold 36,000 units of Weedban and 20,500 units of Greengrow. Its annual common fixed expenses are $103,000. Required: Prepare a contribution format income statement segmented by product lines. Piedmont Company segments its business into two regionsNorth and South. The company prepared the contribution format segmented income statement as shown: Total Company North South Sales $ 1,156,250 $ 925,000 $ 231,250 Variable expenses 736,250 740,000 46,250 Contribution margin 370,000 185,000 185,000 Traceahle fixed expenses 156,000 78,000 78,000 Segment margin 214,000 $ 107.000 $ 107.000 Common fixed expenses 68,000 Net operating income 3 146,000 Required: 1. Compute the companywide break-even point in dollar sales. 2. Compute the breakeven point in dollar sales for the North region. 3. Compute the breakeven point in dollar sales for the South region. (For all requirements, round your intermediate calculations to 2 decimal places. Round your final answers to the nearest dollar.) 1. Dollar sales for company to break even 2. Dollar sales for North segment to break even 3. Dollar sales for South segment to break even