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Sales price Unit variable product cost Labor cost Variable overhead Total fixed product cost Unit variable period cost Total fixed period cost 2019 2019 Produce
Sales price | |||
Unit variable product cost | |||
Labor cost | |||
Variable overhead | |||
Total fixed product cost | |||
Unit variable period cost | |||
Total fixed period cost | |||
2019 | 2019 | ||
Produce | |||
Sell | |||
Absorption Costing | Variable Costing | ||
Sales | Sales | ||
COGS | COGS | ||
Variable COGS | Variable COGS | ||
Fixed product costs | Less: Ending inventory | ||
Total costs | Manufacturing margin | ||
Less: Ending inventory | Less: Variable selling | ||
units*unit product cost | Contribution margin | ||
COGS | Less: Fixed costs | ||
Gross profit | Manufacturing | ||
Less: | Administrative | ||
Selling expense | Total fixed | ||
Administrative expense | Net income | ||
Net income |
Please help with filling out the excel
Variable and Absorption Costing-Service Company Jensen's Tailoring provides custom tailor- ing services. After the company's first year of operations, its owner prepared the following summa- rized data report for 2019: $100,000 Sales (500 completed jobs) Tailoring costs (550 jobs): 47,000 Direct labor.... Manufacturing ove.head: Variable Fixed... Operating expenses: Variable Fixed. 12,000 9,000 5,600 5,800 Required a. Prepare an income statement based on full absorption costing. (Round ending inventory to the nearest $.) b. Prepare an income statement based on variable costing. (Round ending inventory to the nearest $.) c. Assume that you must decide quickly whether to accept a special one-time order to alter 50 band costumes for $125 per costume. Which income statement presents the most relevant data? Deter- mine the apparent profit or loss on the special order based solely on these dataStep by Step Solution
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