Please follow all the instructions posted here, follow the format and put steps, and please attempt this question if u know it. There are 3 types of income statements, complete everything with steps.
Case 8-46 a-f, g1-g2 Big Sports Manufacturing produces basketballs used for indoor and outdoor games. The company has had significant troubles over the past few years, as the number of competitors in the basketball market has increased dramatically. Recently, the company was forced to cut back production in order to decrease its rising inventory level. The following is a list of costs for the company in 2020: $2.75 Variable costs per unit Rubber Other materials-indirect Ball makers-direct labour Factory electricity usage Factory water usage Other labour-indirect Selling and administrative expenses Fixed costs per year Factory property taxes Factory sewer usage Factory electricity usage Selling and administrative expenses 1.40 5.60 0.50 0.15 0.27 0.40 $120,000 50,000 40,000 83,000 Big Sports Manufacturing had an ending inventory of 85,000 basketballs in 2019. For these units, the fixed manufacturing overhead cost was $4.00 per unit and variable manufacturing costs were $9.67 per unit. In 2020, the company produced 35,000 basketballs, sold 72,500 basketballs, and had an ending inventory of 47,500 basketballs. The basketballs sold for $18 each. Big Sports uses the FIFO method. Calculate Big Sports' manufacturing cost per unit under a variable-costing system. (Round answer to 2 decimal places, e.g. 15.25.) Manufacturing cost per unit BIG SPORTS MANUFACTURING Variable-Costing Income Statement Sales in units December 31, 2020 For the Month Ended December 31, 2020 For the Year Ended December 31, 2020 S S BIG SPORTS MANUFACTURING Variable-Costing Income Statement Sales in units S Cost of Goods Available for Sale Beginning Inventory Variable Costs Sales Cost of Goods Manufactured Ending Inventory Contribution Margin Variable Selling and Administrative Fixed Costs Fixed Manufacturing Overhead Fixed Administrative Costs Operating Income Before Tax BIG SPORTS MANUFACTURING Variable-Costing Income Statement Sales in units Add Less S Calculate the manufacturing cost per unit under a throughput-costing system. (Round answer to 2 decimal places, e.g. 15.25.) Manufacturing cost per unit S Prepare a throughput-costing income statement for 2020. Assume that increased costs in 2020 are related to variable costs other than materials. BIG SPORTS MANUFACTURING Throughput Costing-Income Statement Sales in units December 31, 2020 For the Month Ended December 31, 2020 For the Year Ended December 31, 2020 S s Prepare a throughput-costing income statement for 2020. Assume that increased costs in 2020 are related to variable costs other than materials. BIG SPORTS MANUFACTURING Throughput Costing-Income Statement Sales in units Ending Inventory Net Income Before Tax Beginning Inventory Sales Throughput Cost of Goods Sold Variable Cost of Goods Sold Operating Expenses Variable Selling and Administrative Expense Fixed Operating Expenses Throughput Contribution Margin s Prepare a throughput-costing income statement for 2020. Assume that increased costs in 2020 are related to variable costs other than materials. BIG SPORTS MANUFACTURING Throughput Costing-Income Statement Sales in units Less Add s Calculate Big Sports' manufacturing cost per unit under absorption costing. (Round answer to 2 decimal places, e.g. 15.25.) 2019 2020 Manufacturing cost per unit S per unit Prepare an absorption-costing income statement for 2020. BIG SPORTS MANUFACTURING Absorption-Costing Income Statement Sales in units December 31, 2020 For the Month Ended December 31, 2020 For the Year Ended December 31, 2020 S Prepare an absorption-costing income statement for 2020. BIG SPORTS MANUFACTURING Absorption-Costing Income Statement Sales in units Cost of Goods Sold Fixed Selling and Administrative Costs Sales Operating Income /(Loss) Variable Selling and Administrative Costs Cost of goods available for sale Gross Margin Beginning Inventory Cost of goods manufactured Ending Inventory
