Question
Qadir Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $ 93 Units in
Qadir Corporation, which has only one product, has provided the following data concerning its most recent month of operations:
|
|
|
Selling price | $ | 93 |
Units in beginning inventory |
| 0 |
Units produced |
| 5,400 |
Units sold |
| 5,200 |
Units in ending inventory |
| 200 |
Variable costs per unit: |
|
|
Direct materials | $ | 24 |
Direct labor | $ | 27 |
Variable manufacturing overhead | $ | 2 |
Variable selling and administrative expense | $ | 10 |
Fixed costs: |
|
|
Fixed manufacturing overhead | $ | 108,000 |
Fixed selling and administrative expense | $ | 36,400 |
Required:
a. What is the unit product cost for the month under variable costing?
b. Prepare a contribution format income statement for the month using variable costing.
c. What is the unit product cost for the month under absorption costing?
d. Prepare an income statement for the month using absorption costing.
* * * Please organize your answer with schedule * * *
* * * Please organize your answer with schedule * * *
* * * Please organize your answer with schedule * * *
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