Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please note, the year is 2020 (not 2017). Please list legibly and show how you reached answers. Thank you. Assuming the company uses variable costing,
Please note, the year is 2020 (not 2017). Please list legibly and show how you reached answers. Thank you.
Assuming the company uses variable costing, calculate Sirens manufacturing cost per unit for 2020. (Round answer to 2 decimal places, e.g. 10.50.)
|
Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2020, the company incurred the following costs. Variable Costs per Unit Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses $8.85 $4.07 $6.84 $4.60 Fixed Costs per Year Fixed manufacturing overhead Fixed selling and administrative expenses $271,400 $247,918 Siren Company sells the fishing lures for $29.50. During 2020, the company sold 80,000 lures and produced 92,000 lures. Prepare a variable costing income statement for 2017. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) STREN COMPANY Income Statement Variable Costing Prepare an absorption costing income statement for 2017. (Enter negative amounts using either a negative sign preceding the number e.g.-45 or parentheses e.g. (45).) SIREN COMPANY Income Statement Absorption Costing LINK TO TEXT
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started