Question
In 2019, Troy Camejo Inc. sold 31,000 units at a selling price of $35 per unit. The company manufactured 67,000 units. Variable manufacturing costs were
In 2019, Troy Camejo Inc. sold 31,000 units at a selling price of $35 per unit. The company manufactured 67,000 units. Variable manufacturing costs were $20 per unit manufactured. Fixed manufacturing costs amounted to $349,000. Variable marketing costs were $13 per unit sold, and the budgeted and actual fixed marketing costs were $50,000. Other fixed operating expenses amounted to $29,000. There was no beginning inventory.
Do not enter dollar signs or commas in the input boxes. Round all answers to the nearest whole number. a) Calculate the company's 2019 operating income using absorption costing.
Revenues | $Answer | |
Cost of Goods Sold: | ||
Beginning Inventory | $Answer | |
Cost of Goods Manufactured | $Answer | |
Less: Ending Inventory | $Answer | |
Cost of Goods Sold | $Answer | |
Gross Margin | $Answer | |
Operating Expenses: | ||
Marketing Costs | $Answer | |
Other Fixed Operating Expenses | $Answer | $Answer |
Income from Operations | $Answer |
b) Calculate the company's 2019 operating income using variable costing.
Revenues | $Answer | |
Variable Cost of Goods Sold | ||
Beginning Inventory | $Answer | |
Cost of Goods Manufactured | $Answer | |
Less: Ending Inventory | $Answer | |
Variable Cost of Goods Sold | $Answer | |
Variable Marketing Costs | $Answer | |
Contributed Margin | $Answer | |
Operating Expenses: | ||
Fixed Manufacturing Overhead Costs | $Answer | |
Fixed Marketing Costs | $Answer | |
Other Fixed Operating Expenses | $Answer | $Answer |
Income from Operations | $Answer |
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