Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please Help Enter numbers in blue cells 2 Enter formulas in the yellow cells 3. Enter your narrative analysis in the green cells Kitty Hawk

image text in transcribed

image text in transcribed

image text in transcribed

Please Help

Enter numbers in blue cells 2 Enter formulas in the yellow cells 3. Enter your narrative analysis in the green cells Kitty Hawk manufactures and distributes high end drones. The following costs are available for the year end. The company had no beginning inventory. Last year they produced 1,800 units and but only sold 1,600 units. The unit selling price was $4,300 and expenses were: 1,800 Variable Cost per Unit Direct Materials Direct Labor Variable Mfg Over Head Variable selling and Units Produced 900 Units Sold 750 Units Remaining 350 Unit selling price 1,600 200 4,300 admir 950,000 14 Annual Fixed Costs | 15 Mfg overhead fixed Fixed Selling and admin 16 Expenses 87,500 1.Compute the cost of manufacturing one unit for both variable and 20 absorption costing fixed cost per unit 23 Fixed Overhead 24 Units produced Variable Absorption Determine the product 26 cost for each method 27 Direct Materials 28 Direct Labor 29 Variable Mfg OverHead Variable selling and 30 admin 31 Fixed Cost per unit 32 AM Total Cost per unit 2. Prepare an income statement for both variable and absorption costing Per unit 37 Variable Costing 38 Income Stmt 39 Units sold 40 Sales 41 Variable Prod Costs VCOGS Less Variable selling expense MFG Margin 45 Less Fixed Costs 46 Fixed Mfg Ohead 47 Fixed Selling 48 Total Fixed Costs 50 Net Income Per unit Absorption 58 Absorption Costing 59 Units 60 Sales 61 COGS 62 Gross Profit 63 Less Period Costs 64 Variable selling 65 Fixed Selling 66 Total period costs 70 Net Income 72 Proof 73 Absorption net income 74 Variable net income 75 Difference 77 Absorption 78 Ending inventory 79 Per unit 80 Total Ending Inventory These numbers should be the same. 82 Variable 83 Ending inventory 84 Per unit 85 Total Ending Inventory 87 Difference

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

Ressourceneffizientes Wirtschaften

Authors: Heinz Karl Prammer

2nd Edition

3658046082, 9783658046088

More Books

Students also viewed these Accounting questions