Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2017, the company incurred the following costs.

Siren Company sells the fishing lures for $26.00. During 2017, the company sold 79,000 lures and produced 89,000 lures.

Assuming the company uses variable costing, calculate Sirens manufacturing cost per unit for 2017. (Round answer to 2 decimal places, e.g.10.50.)

eTextbook and Media

Prepare a variable costing income statement for 2017. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

eTextbook and Media

Assuming the company uses absorption costing, calculate Sirens manufacturing cost per unit for 2017. (Round answer to 2 decimal places, e.g.10.50.)

eTextbook and Media

Prepare an absorption costing income statement for 2017. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

Variable Costs per Unit

Direct materials

$7.80

Direct labor

$3.59

Variable manufacturing overhead

$6.03

Variable selling and administrative expenses

$4.06

Fixed Costs per Year

Fixed manufacturing overhead

$231,400

Fixed selling and administrative expenses

$218,504

Manufacturing cost per unit

$

SIREN COMPANY Income Statement

Variable Costing

$

$

$

Manufacturing cost per unit

$

SIREN COMPANY Income Statement

Absorption Costing

$

$

$