Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2022, the company incurred the following costs. Unit Variable Costs Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses Annual Fixed Costs Fixed manufacturing overhead Fixed selling and administrative expenses

$7.50

$3.45

$5.80

$3.90

$225.000

$210.100

Siren Company sells the fishing lures for $25. During 2022, the company sold 80,000 lures and produced 90.000 lures.

Instructions

1. Assuming the company uses variable costing, calculate Siren's manufacturing cost per unit for 2022.
2. Prepare a variable costing income statement for 2022.
3. Assuming the company uses absorption costing, calculate Siren's manufacturing cost per unit for 2022.
4. Prepare an absorption costing income statement for 2022.

Bompule product cost and propare an nounie statement ander siariable and ibsorption costing. - E6.17 (LO 5), AP Siren Company bullds custom fishing lures for sporting goods stores. In its first year of operations, 2022, the company incurred the following costs. Siren Company sells the fishing lures for $25. During 2022, the company sold 80,000 lures and produced 90,000 lures. Instructions a. Assuming the company uses variable costing, calculate Siren's manufacturing cost per unit for 2022. b. Prepare a variable costing income statement for 2022 . c. Assuming the company uses absorption costing. calculate Siren's manufacturing cost per unit for 2022 d. Prepare an absorption costing income statement for 2022