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The EG Company produces and sells one product. The following data refer to the year just complete Beginning Inventory 0 units Units produce..... ...... 25,000 Units sold..................... 20,000 Sales price per unit. .. $400 Variable selling and administrative expenses per unit Fixed Selling and administrative expenses (Total) $ $27 Manufacturing Costs: Direct materials cost per unit......... Direct labor cost per unit.... ... ..........$ 50 Variable manufacturing overhead cost per unit.. 30 Fixed manufacturing overhead (Total).................$300,000 Required: a. What is the unit product cost for the month under variable costing? b. What is the unit product cost for the month under absorption costing? c. Prepare a contribution format income statement for the year using variable costing. d. Prepare an income statement for the year using absorption costing. Your Answer: Formula: Unit Product Cost (UPC) - Direct Materials per unit (DMPU) + Direct Labor per unit (DLPU) + Variable M, (VMOPU) Files (0) Comments Dashboard E To Do Calendar sales price (SP) = Selling price per unit * Units 400 20000 (2* 4 so add to exra ZERO) 8,000,000 (Part D uses this too) Variable Cost of Goods Sold (VCGS) = Unit Product Cost Units Sold VCGS = $280* 20,000 5,600,000 Variable Selling and Administrative Units Sold (US) VSA = $15* 20,000 VSA= $300,000 Sales Cost of goods sold Gross Profit 8,000,000 5,600,000 5,840,000 Selling and Admin Expenses 575,000 Net Operating income 19.440,000 (going to add then subtract to get final answer) Cost of Goods Sold - Unit Product Cost Units Sold Cost of Goods Sold = $292 20,000 Cost of Goods Sold = $5,840,000 Comments Files (0) o pochboard Calendar To Do