Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Required: Prepare Income Statement for the month of December 2020 assuming VARIABLE COSTING method. Please answer as soon as you can. I will rate Instantly.
Required:
Prepare Income Statement for the month of December 2020 assuming VARIABLE COSTING method. Please answer as soon as you can. I will rate Instantly. Thank you.
1. Go Green Bikes, which has only one product Green Tiger Bikes, has provided the following data concerning December 2020 operations: Selling price Units in beginning inventory Units produced Units sold Units in ending inventory $71 400 8,100 8,200 300 Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expense $20 $15 $6 $4 Fixed costs every month: Fixed manufacturing overhead 64,800 Fixed selling and administrative $139,400 The company produces the same number of units every month, although the sales in units vary from month to month. The company's variable costs per unit and total fixed costs have been constant from month to month. The unit product cost of November 2020 was: Absorption Costing Variable Costing $49 $41Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered 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