Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please answer all the parts Bracey Company manufactures and sells one product. The following information pertains to the company's first year of operations: The company

please answer all the parts
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
image text in transcribed
Bracey Company manufactures and sells one product. The following information pertains to the company's first year of operations: The company does not incur any variable manufacturing overhead costs or variable selling and administrative expenses. During its first year of operations, Bracey produced 29,000 units and sold 26,300 units. The selling price of the company's product is $81 per unit. Required: 1. Assume the company uses super-variable costing: a. Compute the unit product cost for the year. b. Prepare an income statement for the year: 2. Assume the company uses a variable costing system that assigns $19.50 of direct labor cost to each unit produced: a. Compute the unit product cost for the year. b. Prepare an income statement for the year. 3. Assume the company uses an absorption costing system that assigns $19.50 of direct labor cost and $16.80 of fixed manufacturing overhead cost to each unit produced: a. Compute the unit product cost for the year. b. Prepare an income statement for the year. 4. a. Reconcile the difference between the super-variable costing and variable costing net operating incomes. b. Reconcile the difference between the super-variable costing and absorption costing net operating incomes. 1. Assume the company uses super-variable costing: a. Compute the unit product cost for the year. b. Prepare an income statement for the year. 2. Assume the company uses a variable costing system that assigns $19.50 of direct labor cost to each unit produced: a. Compute the unit product cost for the year. b. Prepare an income statement for the year. 3. Assume the company uses an absorption costing system that assigns $15.50 of direct labor cost and $16.80 of fixed manufacturing overhead cost to each unit produced: a. Compute the unit product cost for the year. b. Prepare an income statement for the year. 4. a. Reconcile the difference between the super-variable costing and variable costing net operating incomes. b. Reconcile the difference between the super-variable costing and absorption costing net operating incomes. Complete this question by entering your answers in the tabs below. Compute the unit product cost for the year. Assume the company uses super-variable costing. Complete this question by entering your answers in the tabs below. Prepare an income statement for the year. Assume the company uses super-ve. 2. Assume the company uses a vanadie costing system that assigns $1Y.50 or oirect laoor cost to each unt proouce. a. Compute the unit product cost for the year. b. Prepare an income statement for the year. 3. Assume the company uses an absorption costing system that assigns $19.50 of direct labor cost and $16,80 of fixed manufacturing overhead cost to each unit produced: a. Compute the unit product cost for the year. b. Prepare an income statement for the year. 4. a. Reconcile the difference between the super-variable costing and varias costing net operating incomes. b. Reconcile the difference between the super-variable costing and abs an costing net operating incomes. Complete this question by entering your answers in the tabs below. Compute the unit product cost for the year. Assume the company uses a variable costing system that assigns $19.$0 of direct labor cost to each unit produced. Note: Round your answer to 2 decimal places. Show less A Complete this question by entering your answers in the tabs below. Prepare an income statement for the year. Assume the company uses a variab" rosting system that assigns $19.50 of direct labor cost to each unit produced. Note: Round your intermediate calculations to 2 decimal places. 1. Assume the company uses super-variable costing: a. Compute the unit product cost for the year. b. Prepare an income statement for the year. 2. Assume the company uses a variable costing system that assigns $19.50 of direct labor cost to each unit produced: a. Compute the unit product cost for the year. b. Prepare an income statement for the year. 3. Assume the company uses an absorption costing system that assigns $19.50 of direct labor cost and $16.80 of fixed manufacturing overhead cost to each unit produced: a. Compute the unit product cost for the year. b. Prepare an income statement for the year. 4. a. Reconcile the difference between the super-variable costing and variable costing net operating incomes. b. Reconcile the difference between the super-variable costing and absorption costing net operating incomes. Complete this question by entering your answers in the tabs below. Compute the unit product cost for the year. Assume the company uses an absorption costing system that assigns $19.50 of direct labor cost and $16.80 of fixed manufacturing overhead cost to each unit produced. Note: Round your answer to 2 decimal places. b. Reconcile the difference between the super-variable costing and absorption costing net operating incomes. Complete this question by entering your answers in the tabs below. Prepare an income statement for the year. Assume the company uses an absorption costing system that assigns $19.50 of direct labor cost and $16.80 of fixed manufacturing overhead cost to each unit produced. Note: Round your intermediate calculations to 2 decimal places. a. Compute the unit product cost for the year. b. Prepare an income statement for the year. 2. Assume the company uses a variable costing system that assigns $19.50 of direct labor cost to each unit produced: a. Compute the unit product cost for the year. b. Prepare an income statement for the year. 3. Assume the company uses an absorption costing system that assigns $19.50 of direct labor cost and $16.80 of fixed manuf overhead cost to each unit produced: a. Compute the unit product cost for the year. b. Prepare an income statement for the year. 4. a. Reconcile the difference between the super-variable costing and variable costing net operating incomes. b. Reconcile the difference between the super-variable costing and absorption costing net operating incomes. Complete this question by entering your answers in the tabs below. Reconcile the difference between the super-variable costing and variable costing net operating incomes. a. Compute the unit product cost for the year. b. Prepare an income statement for the year. 2. Assume the company uses a variable costing system that assigns $19.50 of direct labor cost to each unit produced: a. Compute the unit product cost for the year. b. Prepare an income statement for the year. 3. Assume the company uses an absorption costing system that assigns $19.50 of direct labor cost and $16.80 of fixed manufacty overhead cost to each unit produced: a. Compute the unit product cost for the year. b. Prepare an income statement for the year. 4. a. Reconcile the difference between the super-variable costing and variable costing net operating incomes. b. Reconcile the difference between the super-variable costing and absorption costing net operating incomes. Complete this question by entering your answers in the tabs below

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

The Sixth International Congress On Accounting 1952

Authors: Various

1st Edition

0367512807, 9780367512804

More Books

Students also viewed these Accounting questions