Revenues?

Direct material cost of goods sold?

Beginning inventory?

Direct materials in goods manufactured?

Cost of goods available for sale?

Deduct ending inventory?

Total Direct material cost of goods sold?

Throughput margin?

Manufacturing costs?

Other operating costs?

Homework: 5-1 MyAccountingLab Homework: Chapter 9 Save Score: 2.81 of 9 pts 4 of 5 (4 complete) HW Score: 24.6%, 11.07 of 45 pts Question Help 0 %E9-24 (similar to) Chicago Screen Corporation manufactures and sells 50-inch television sets and uses standard costing. Actual data relating to January, February, and March 2017 are as follows: (Click the icon to view the actual data.) The selling price per unit is $3,400. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 1,000 units. There are no price, efficiency, or spending variances. Any production-volume variance is written off to cost of goods sold in the month in which it occurs. The variable manufacturing costs per unit of Chicago Screen Corporation are as follows: (Click the icon to view the variable manufacturing cost data.) Chicago Screen prepared the following income statements under variable costing and absorption costing. (Click the icon to view the variable costing statement.) (Click the icon to view the absorption costing statement.) Read the requirements Requirement 1. Prepare income statements for Chicago Screen in January, February, and March 2017 under throughput costing. Begin by completing the top portion of the statement, then the bottom portion. (Enter a "0" for any zero balance accounts.) January 2017 February 2017 March 2017 Revenues Choose from any list or enter any number in the input fields and then click Check Answer. parts remaining Clear All Check Answer x Data Table January February March 100 0 1,000 900 100 975 975 1,020 1,025 Unit data: Beginning inventory Production Sales Variable costs: Manufacturing cost per unit produced Operating (marketing) cost per unit sold Fixed costs: Manufacturing costs Operating (marketing) costs $ 700 700 $ 650 $ 700 $ 650 $ $ 650 $ 480,000 $ 480,000 S 190,000 $ 190,000 $ 480,000 190,000 S Print Done Data Table A Direct material cost per unit Direct manufacturing labor cost per unit Manufacturing overhead cost per unit January February March 425 $ 425 $ 425 100 100 100 175 175 175 $ 700 S 700 S 700 Print Done Variable costing income statement January 2017 $ 3,060,000 February 2017 $ 3,315,000 March 2017 $ 3,485,000 $ $ 70,000 714,000 Revenues Variable costs: Beginning inventory Variable manufacturing costs Cost of goods available for sale Less: Ending inventory Variable cost of goods sold Variable operating costs Total variable costs Contribution margin Fixed costs: Fixed manufacturing costs Fixed operating costs Total fixed costs Operating income 0 700,000 700,000 (70,000) 630,000 585,000 $ 70,000 682,500 752,500 (70,000) 682,500 633,750 1,215,000 1,845,000 784,000 (66,500) 717,500 666,250 1,316,250 1,998,750 1,383,750 2,101,250 480,000 190,000 480,000 190,000 480,000 190,000 670,000 $ 1,328,750 670,000 $ 1,175,000 670,000 $ 1,431,250 Print Done Absorption costing income statement -X January 2017 $ 3,060,000 February 2017 $ 3,315,000 March 2017 $ 3,485,000 S S 0 700,000 480,000 118,000 682,500 468,000 1,268,500 (118,000) $ 118,000 714,000 489,600 1,180,000 (118,000) 0 1,321,600 (112,100) Revenues Cost of goods sold Beginning inventory Variable manufacturing costs Allocated fixed manufacturing costs Cost of goods available for sale Less: Ending inventory Adj. for production-volume variance Cost of goods sold Gross margin Operating costs: Variable operating costs Fixed operating costs Total operating costs Operating income 12,000 U (9,600) F 1,062,000 1,998,000 1,162,500 2,152,500 1,199,900 2,285,100 585,000 190,000 633,750 190,000 666,250 190,000 856,250 775,000 $ 1,223,000 823,750 $ 1,328,750 $ 1,428,850 Print Done A Requirements x 1. Prepare income statements for Chicago Screen in January, February, and March 2017 under throughput costing. 2. Contrast the results in requirement 1 with the operating income results under variable costing and absorption costing. 3. Give one motivation for Chicago Screen to adopt throughput costing. Print Done