Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

please answer all the requirements actually i did submit the wrong question. please ignore this one and answer the new picture please im so sorry.

please answer all the requirements
image text in transcribed
image text in transcribed
actually i did submit the wrong question. please ignore this one and answer the new picture please im so sorry. i dont have more questions avaialabe
image text in transcribed
image text in transcribed
image text in transcribed
Problem 6-20 (Algo) Variable and Absorption Costing Unit Product Costs and Income Statements; Explanation of Difference in Net Operating Income [LO6-1, L06-2, L06-3) Kamala Harris Lid produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plant's operation 18 41,000 36,000 52 $ Beginning Inventory Units produced Units sola Selling price per unit selling and administrative expenses Variable per unit Fixed (per month) Manufacturing costs Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit Fixed manufacturing overhead cost per month) 5 3 5 565,000 5 15 9 $ 5 656,00 Book Required: 1. Assume that the company uses absorption costing. a. Calculate the unit product cost. b. Prepare an income statement for May. 2. Assume that the company uses variable costing. a. Calculate the unit product cost. b. Prepare a contribution format income statement for May. tent that services the equipment in the company's Forming Department and Assembly Department. The cost of this servicing is charged to the operating departments on the basis of machine-hours Cost and other data relating to the Maintenance Department and to the other two departments for the most recent year are presented below Data for the Maintenance Department follow. Badget Actual Variable costs for lubricants $323, 480" $414,420 Fixed costs for salaries and other $198.000 $212,600 *Budgeted at $22 per machine-hour, Data for the Forming and Assembly Departments follow. Forming Department Assembly Department Total Percentage of Penk-Period Capacity Required 73 27% 10as Machine-Hours Budget Actual 9,900 11,99 3.300 14,700 15,700 The level of fixed costs in the Maintenance Department is determined by peak-period requirements Required: 1. How much Maintenance Department cost should be charged to the Forming Department and to the Assembly Department? if any of the actual Maintenance Department costs for the year should be treated as a spending variance and not Required 1 Required 2 How much Maintenance Department cost should be Forming Assembly Department Department Total cost charged K Required Complete this question by entering your K Required 1 Required 2 How much, if any, of the actual Maintenance De charged to the Forming and Assembly departme Spending variance

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_2

Step: 3

blur-text-image_3

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

Sustainability Accounting And Accountability

Authors: Matias Laine, Helen Tregidga, Jeffrey Unerman

3rd Edition

1032023104, 9781032023106

More Books

Students also viewed these Accounting questions

Question

Explain how HR serves as a strategic business partner.

Answered: 1 week ago

Question

Describe a social audit.

Answered: 1 week ago

Question

Describe ethics training.

Answered: 1 week ago