Osawa, Inc., planned and actually manufactured 170,000 units of its single product in 2020, its first year of operation. Variable manufacturing cost was $21 per unit produced. Variable operating (non-manufacturing) cost was $12per unit sold. Planned and actual fixed manufacturing costs were $850,000. Planned and actual fixed operating (non-manufacturing) costs totaled $370,000. Osawa sold 100,000 units of product at $46 per unit.

Requirement 1. Begin by selecting the labels used in the absorption costing calculation of operating income and enter the supporting amounts. Perform the calculations in this step, but select the correct operating income in the next step. (For amounts with a $0 balance, make sure to enter "0" in the appropriate cell.)

Absorption costing
Revenues				$?
Cost of goods sold:
	Beginning inventory		$?
	Variable manufacturing costs		?
	Allocated fixed manufacturing costs		?
	Cost of goods available for sale		?
	Deduct ending inventory		(?)
	Cost of goods sold			?
Gross margin				?
Variable operating costs				?
Fixed operating costs				?
Operating income

Osawa Inc. 2020 operating income using absorption costing is ?

Requirement 2. Begin by selecting the labels used in the variable costing calculation of operating income and enter the supporting amounts. Perform the calculations in this step, but select the correct operating income in the next step. (For amounts with a $0 balance, make sure to enter "0" in the appropriate cell.)

Variable costing
Revenues				$?
Variable cost of goods sold:
	Beginning inventory		$?
	Variable manufacturing costs		?
	Cost of goods available for sale		?
	Deduct ending inventory		(?)
	Variable cost of goods sold			?
Variable operating costs				?
Contribution margin				?
Fixed manufacturing costs				?
Fixed operating costs				?
Operating income

Osawa Inc. 2020 operating income using variable costing is ?

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