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i ezto.mheducation.com/ext/map/index.htmcho 7 ttps%253A%252F%252F|ms.mheducation.com%252Fmgh... Final Timed assignment 0 Saved Help Save& Exit Submit Audiophonics Limited manufactures and sells high-quality and durable ear buds for use with personal electronics that are custom moulded to each customer's ear. Cost data for the product follow: Variable costs per unit: Direct materials 3 19 Direct labour 18 Variable 'Factory overhead 19 Variable selling and administrative 5 Total variable costs per unit $ 43 Fixed costs per month: Fixed manufacturing overhead $169,409 Fixed selling and administrative 154,809 Total fixed cost per month $323,406 The product sells for $66 per unit. Production and sales data for May and June, the rst two months of operations, are as follows: May 15,499 13,239 June 15,469 17.6% Hey. 1 of 5 Next. > i eztomheducation.com/ext/map/index.htmcho 7 ttps%253A%252F%252F|ms.mheducation.com%252Fmgh... Final Timed assignment 0 Saved Help Save& Exit Submit Income statements prepared by the Accounting Department using absorption costing are presented below: Sales 3 $71,296 $1,161,680 Cost of goods sold: Beginning inventory 9 197, 899 Add cost of goods manufactured 754,699 754,699 Goods available for sale 754,699 862,499 Less ending inventory 197,899 9 Cost of goods sold 646,899 862,499 Gross margin 224,499 299,299 Selling and administrative expenses 229,999 242,999 Operating income $ 4,499\\ $ 57,299 Required: 1. Determine the unit product cost under each of the following methods. 5 11. Variable costing Mc G Hiw Erey 1 of 5 Edumliwn N95: > - x0 Type here to search Final Timed assi( X Connect X S SOAP2DAY X songs to get los X Tate McRae - all X Sell your items X E essay4less.com X + X C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmgh... G Final Timed assignment i Saved Help Save & Exit Submit Required: 1. Determine the unit product cost under each of the following methods. a. Absorption costing b. Variable costing 02:23:05 2. Prepare variable costing income statements for May and June using the contribution approach. (Do not leave any empty spaces; input a 0 wherever it is required.) May June Variable expenses: Variable cost of goods sold: 0 0 Mc Graw Hill Education Type here to search ENG 11:36 AM US 2020-08-11Final Timed assi( X Connect X S SOAP2DAY X songs to get los X Tate McRae - all X Sell your items X E essay4less.com X + X C ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252FIms.mheducation.com%252Fmgh... G Final Timed assignment i Saved Help Save & Exit Submit 2. Prepare variable costing income statements for May and June using the contribution approach. (Do not leave any empty spaces; input a 0 wherever it is required.) May June Variable expenses: 02:23:00 Variable cost of goods sold: 0 0 Total variable expenses o o Fixed expenses: Total fixed expenses 0 0 Operating income (loss) $ o $ 0 Mc Graw Hill Education Type here to search ENG 11:36 AM US 2020-08-11Final Timed assignment 0 Saved Help Save& Exit Submit Total xed expenses 0 0 1 Operating income (loss) $ 0 $ 0 3. Reconcile the variable costing and absorption costing operating income gures. (Loss amounts should be indicated with a minus sign.) Variable costing operating income (loss) _ _ Add: Fixed manufacturing overhead cost deferred in inventory under absorption costing _ _ Deduc'l: Fixed manufacturing overhead cost released from inventory under absorption costing _ _ $ 0 Absorption costing operating income $ 0 4. Not available in Connect. Bray. 1 of 5 Next. >
