Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

please help me find OPERATING INCOME/(LOSS) under ABSORPTION COSTING and the OPERATING INCOME UNDER VARIABLE COSTING SOLD 500 Sales per Unit $65 Direct materials per

please help me find OPERATING INCOME/(LOSS) under ABSORPTION COSTING
and the OPERATING INCOME UNDER VARIABLE COSTING
SOLD 500 image text in transcribed
Sales per Unit $65 Direct materials per unit $5 Direct labor per unit $6 Variable manufacturing overhead per unit $7 Fixed manufacturing overhead costs $10,000 Variable Selling and Administrative costs - $8 per unit Fixed selling and Administrative costs $15,000 Units produced 1000 units SOLD 500 ABSORPTION COSTING SALES LESS COST OF GOODS SOLD (Product costs) DIRECT MATERIALS DIRECT LABOR VARIABLE MANUFACTURING OVERHEAD FIXED MANUFACTURING OVERHEAD GROSS PROFIT LESS SELLING & ADMIN EXPENSES (Period costs) VARIABLE S&A COSTS FIXED S & A COSTS OPERATING INCOME/(LOSS) VARIABLE COSTING SALES LESS VARIABLE COSTS DIRECT MATERIALS DIRECT LABOR VARIABLE MANUFACTURING OVERHEAD VARIABLE SELLING & ADMIN COSTS CONTRIBUTION MARGIN LESS FIXED COSTS: FIXED S&A COSTS FIXED MANUFACURING OVERHEAD COSTS OPERATING INCOME

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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 Decision Making and Motivating Performance

Authors: Srikant M. Datar, Madhav V. Rajan

1st edition

132816245, 9780132816243, 978-0137024872

Students also viewed these Accounting questions