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+ $11 4 Selling price per unit $50 5 Manufacturing costs 6 Variable per unit produced 7 Direct materials $11 8 Direct labor $6 9 Variable manufacturing overhead $3 10 Fixed manufacturing overhead per year $120.000 11 Selling and administrative expenses 12 Variable per unit sold $4 13 Fixed per year $70,000 14 15 Year 1 Year 2 16 Units in beginning inventory 0 17 Units produced during the year 10,000 6.000 18 Units sold during the year 8,000 6,000 19 20 Enter a formula into each of the cells marked with a 7below 21 Review Problem 1: Contrasting Variable and Absorption Costing 22 23 Compute the Ending Inventory 24 Year 1 Yoar 2 25 Units in beginning Inventory 0 2,000 26 Units produced during the year 10,000 6,000 27 Units sold during the year 8,000 8,000 28 Unitsin ending Inventory 2,000 0 29 30 Compute the Absorption Costing Unit Product Cost 31 Year 1 Year 2 32 Direct materials $11 33 Direct labor 6 6 34 Variable manufacturing overhead 3 3 35 Fixed manufacturing overhead 2 2 36 Absorption costing unit product cost 7 2 37 38 Construct the Absorption Costing Income Statement 39 Year 1 Year 2 40 Sales 7 2 41 Cost of goods sold 2 2 42 Gross margin 2 ? 43 Seling and administrative expenses 7 2 44 Net operating Income ? 2 45 46 Compute the Variable Costing Unit Product Cost 47 Year 1 Year 2 48 Direct materials ? 2 49 Direct labor ? ? so Vanable manufacturing overhead 2 2 51 Variable costing unit product cost 2 ? 52 53 Construct the Variable Costing Income Statement 54 Year 1 55 Sales 50 56 Variable expenses 57 Variable cost of goods sold 7 58 Variable seling and administrative expenses ? 2 59 Contribution margin 60 Foed expenses 61 Foed manufacturing overhead 62 Fbed selling and administrative expenses 2 ? 63 Net operating income 7 64 Year 2 ? 2 7 7 2 ? 2 Chapter 6 Form + Ready