Required information [The following information applies to the questions displayed below) Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 42,000 units and sold 34,000 units at a price of $110 per unit Manufacturing costs Direct materials per unit Direct labor per unit Variable overhead per unit Fixed overhead for the year Selling and administrative costs Variable selling and administrative cost per unit Fixed selling and administrative cost per year $ 42 $ 16 $ 5 $ 378,000 $ 9 $ 100,000 1a. Assume the company uses absorption costing. Determine its product cost per unit Required information [The following information applies to the questions displayed below.) Cool Sky reports the following costing data on its product for its first year of operations. During this first year, th produced 42,000 units and sold 34,000 units at a price of $110 per unit. 1 Manufacturing costs Direct materials per unit Direct labor per unit Variable overhead per unit Fixed overhead for the year Selling and administrative costs Variable selling and administrative cost per unit Fixed selling and administrative cost per year $ 42 $ 16 $ 5 $ 378,000 $ 9 $ 100,000 1b. Assume the company uses absorption costing. Prepare its income statement for the year under absorption costing. COOL SKY Absorption Costing Income Statement Required information [The following information applies to the questions displayed below) Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 42,000 units and sold 34,000 units at a price of $110 per unit. Manufacturing costs Direct materials per unit Direct labor per unit Variable overhead per unit Fixed overhead for the year Selling and administrative costs Variable selling and adninistrative cost per unit Fixed selling and administrative cost per year $ 42 5 16 $ 5 $ 378,000 $ 9 $ 100,000 20. Assume the company uses variable costing. Determine its product cost per unit. Per unit product cost using: Variable costing Required information [The following information applies to the questions displayed below) Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 42,000 units and sold 34,000 units at a price of $110 per unit. Manufacturing costs Direct materials per unit Direct labor per unit Variable overhead per unit Fixed overhead for the year Selling and administrative costs Variable selling and administrative cost per unit Fixed selling and administrative cost per year $ 42 $ 16 $ 5 $ 378,000 $ 9 $ 100,000 2b. Assume the company uses variable costing. Prepare its income statement for the year under variable costing COOL SKY Variablo Costing Income Statement
