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Needing help with cost of goods sold for Year 2 and Year 3 - please. Haas Company manufactures and sells one product. The following information
Needing help with "cost of goods sold" for Year 2 and Year 3 - please.
Haas Company manufactures and sells one product. The following information pertains to each of the company's first three years of operations Variable costs per unit: Manufacturing: Direct materials Direct labor Variable manufacturing overhead 20 12 Variable selling and administrative Pixed costs per year: s 110,000 Fixed manufacturing overhead Fixed selling and administrative expenses 50,000 During its first year of operations, Haas produced 40,000 units and sold 40,000 units. During its second year of operations, it produced 55,000 units and sold 30,000 units. In its third year, Haas produced 20,000 units and sold 45,000 units. The selling price of the company's product is $46 per unit. Required 1. Compute the company's break-even point in unit sales. 2. Assume the company uses variable costing a. Compute the unit product cost for Year 1, Year 2, and Year 3 b. Prepare an income statement for Year 1, Year 2, and Year 3 3. Assume the company uses absorption costing a. Compute the unit product cost for Year 1, Year 2, and Year 3 b. Prepare an income statement for Year 1, Year 2, and Year 3 Complete this question by entering your answers in the tabs below. Req 1 Req 2A Req 2B Req 3A Req 3B Prepare an income statement for Year 1, Year 2, and Year 3. Assume the company uses absorption costing Haas Company Absorption Costing Income Statement Year 1 1,840,00o 1,380,0002,070,000 1,670,000 Year 2 Year 3 es Cost of goods sold Gross margin 170,0001, 2,070,000 185,000 0 1,240,000 $ 1,885,000 1,380,000 lling and administrative expenses Net operating income (loss) 170,000 140,000Step by Step Solution
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