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managerial accounting please take your time on it ive gotten it wring couple times Coverall Inc. produces and sells a unique type of case for

managerial accounting please take your time on it ive gotten it wring couple times
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Coverall Inc. produces and sells a unique type of case for a standard-size tablet computer that is guaranteed waterproof but still allows for regular functionality of the tablet. The company has just opened a new plant to manufacture these cases, and the following cost and revenue data have been provided for the first month of the plant's operation in the form of a worksheet: 39,000 24,500 94 Beginning Inventory Units produced Units sold Selling price per unit Selling and administrative expenses Variable per unit Pixed (total) Manufacturing costs Direct materials cost per unit Direct labour cost per unit Variable manufacturing overhead cost per unit Pixed manufacturing overhead cost (total) 710,500 17 $ 12 . $1,131,000 Since the new case is unique in design, management is anxious to see how profitable it will be and has asked that an income statement be prepared for the month Required: 1. Assume that the company uses absorption costing a. Determine the unit product cost Required: 1. Assume that the company uses absorption costing a. Determine the unit product cost. Answer is complete and correct. Unit product cost $ 71 b. Prepare an income statement for the month. (Do not leave any empty spaces; input a 0 wherever it is required.) Answer is not complete. $ 2,303,000 Sales Cost of goods sold: Beginning inventory Add: Cost of goods manufactured Variable cost of goods sold Less Ending inventory Gross margin Selling and administrative expenses Operating income x 300 2,769.000 2,769,000 1,029,500 1,739,500 563,500 906,500 $ (343,000) 2. Assume that the company uses variable costing. a. Determine the unit product cost. Answer is complete and correct. Unit product cost $ 42 b. Prepare a contribution format income statement for the month. (Do not leave any empty spaces; input a 0 wherever it is requi Answer is not complete. $ 2,303,000 Sales Variable expenses Variable cost of goods sold: Variable cost of goods sold Less: Variable manufacturing costs Variable cost of goods sold $ 1,638,000 % 609,000 2,247.000 2,247,000 2,247,000 56,000 Variable selling expense Contribution margin Fixed expenses Fixed manufacturing overhead Fixed selling and administrative expense Operating income 1,131,000 710,500 1,841,500 $ (1.785,500)

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