Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please answer all parts Haas Company manufactures and sells one product. The following information pertains to each of the company's first three years at operations

please answer all parts image text in transcribed
image text in transcribed
image text in transcribed
Haas Company manufactures and sells one product. The following information pertains to each of the company's first three years at operations 30 22 6 Variable costs per unit: Manufacturing: Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative Fixed costs per year: Fixed manufacturing overhead Fixed selling and administrative expenses $ 5540,000 5240,000 During its first year of operations, Haas produced 60,000 units and sold 60,000 units. During its second year of operations, produced 75,000 units and sold 50,000 units. In its third year, Haas produced 40.000 units and sold 65.000 units. The selling price of the company's product is $73 per unit Required: 1. Compute the company's break-even point in units sold units Break-even unit sales 2. Assume the company uses variable costing a. Compute the unit product cost for year 1 year 2, and year 3. Year 1 Year 2 Your Unit product cost b. Prepare an income statement for year 1, year 2, and year 3 Haas Company Variable Costing Income Statement Year 1 Year 2 Year Variable expenses Total variable expenses 3. Assume the company uses absorption costing a. Compute the unit product cost for year 1 year 2, and year 3. (Round your intermediate and final answers to 2 decimal places) Your Your Unit product cost b. Prepare an income statement for year 1 year 2, and year 3. (Round your intermediate calculations to 2 decimal places) Haas Company Absorption Couting Income Statement Year 1 Year 2 Year 3 Not operating income foss)

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

Managerial Accounting

Authors: Ray H. Garrison, Alan Webb, Theresa Libby

12th Canadian Edition

1260193276, 978-1260193275

More Books

Students also viewed these Accounting questions

Question

1 Dramarn a ntatamant af anot af anode manuifunturad

Answered: 1 week ago

Question

Explain the multicultural organization development (MCOD) process.

Answered: 1 week ago