Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Ida Sidha Karya Company is a family-owned company located on the island of Ball in Indonesia. The company produces a handcrafted Balinese musical instrument called

image text in transcribed
image text in transcribed
image text in transcribed
Ida Sidha Karya Company is a family-owned company located 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 for $990. Selected data for the company's operations last year follow: Units in beginning inventory Units produced Units sold Units in onding inventory Variable costs per unit: Direct materials Direct labor Variable sanufacturing overhead Variable selling and administrative xed COST Fixed manufacturing overhead sixed selling and administrativ 22.000 The absorption costing Income statement prepared by the company's accountant for last year appears below: $ COO oods sold 222,750 18 42,50 and strative expense sorption costing, how much fixed manufacturing ove mesc castindused the boys inventory at the end of las e income statement for last year using variable costing The absorption costing income statement prepared by the company's accountant for last year appears below. Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income $ 222,750 180.09.9 42.750 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. Answer is not complete. 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? ufacturing overhead cost included in s 7,800 Required 2 > 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. X Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare an income statement for last year using variable costing. Ida Sidha Karya Company Variable Costing Income Statement 222,750 @ Units in beginning inventory Variable cost of goods sold Variable cost of goods sold Variable selling and administrative e per @ 8.825 04.500 Contribution margin 128.250 @ Feed manufacturing overhead 72 000 Variable selling and administrative expense Food sering and administrative expense Netoperating income @@@

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Politics Of Public Management The HRDC Audit Of Grants And Contributions

Authors: David A. Good

2nd Edition

0802085873, 978-0802085870

More Books

Students also viewed these Accounting questions