Natural Looks and Scents manufactures beauty supplies. The information for the current year is listed below.

2020

Selling price per package

$50

Sales

130,000

Beginning inventory

20,000

Production

120,000

Ending Inventory

???

Standard variable cost per Unit for the current year is given below

Direct material

$15.50

Labour

13.50

Overhead

5.00

Variable selling and admin

0.80

Annual fixed cost for current year actual and budgeted were:

Production$357,500

Selling and administration120,000

The fixed overhead rate under absorption costing is based on a practical capacity of 130,000 units per year. All variances and under or overapplied overhead are written off to cost of goods sold.

Complete the throughtput costing table below:

Throughput Costing

Cost per unit

Answer

Adjusted COGS

Answer

Throughput Margin

Answer

Operating Expenses

Answer

Operating Income

Answer