Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Music Incorporated planned and manufactured 252,500 units of its single product in 2022, its first year of operations. Variable manufacturing costs were $35 per

image text in transcribed

Music Incorporated planned and manufactured 252,500 units of its single product in 2022, its first year of operations. Variable manufacturing costs were $35 per unit of production. Planned and actual fixed manufacturing costs were $605,000. Marketing and administrative costs (all fixed) were $302,500 in 2022. Music Incorporated sold 202,500 units of product in 2022 at $65 per unit. Full costing operating income for 2022 is calculated to be: (Do not round intermediate calculations. Round your final answers to whole dollar amounts.) $4,052,000 $4,254,000 $5,167,500 $5,287,302 O $5,368,000. 13 QUESTION 2 Music Incorporated planned and manufactured 250,500 units of its single product in 2022, its first year of operations. Variable manufacturing costs were $31 per unit of production. Planned and actual fixed manufacturing costs were $601,000. Marketing and administrative costs (all fixed) were $300,500 in 2022. Music Incorporated sold 200,500 units of product in 2022 at $61 per unit. Variable costing operating income for 2022 is calculated to be: (Do not round intermediate calculations. Round your final answers to whole dollar amounts.) $4,011,000. Click Save and Submit to save and submit. Click Save All Answers to save all answers. Save Al

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

Step: 3

blur-text-image

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

Cornerstones of Managerial Accounting

Authors: Mowen, Hansen, Heitger

3rd Edition

324660138, 978-0324660135

More Books

Students also viewed these Accounting questions

Question

=+how the customer arrived at their site.

Answered: 1 week ago