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Thank you! {The faiiewing infomaiian applies to the questions displayed beion-zj Listed here are the total costs associated with the production of1,000 drum sets manufactured

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{The faiiewing infomaiian applies to the questions displayed beion-zj Listed here are the total costs associated with the production of1,000 drum sets manufactured by TrueBeat. The drum sets sell for $515 each. Costa 1 . Plastic for casing$1? , 000 2 . Wages of assembly workers$86,000 3 . Property taxes on. factory$5 ,000 4 . Accounting staff salaries$31 , 000 5 . Drum stands (1 ,000 stands purchased]$36, 000 6 . Rent cost of equipment for sales staff$36, 000 'i' . Upper management ealariee$ l 95 , 0 0 0 Q . Annual flat fee for factory maintenance service$19, 000 9. Sales emissions$21 per unit 1 U . Machinery depreciation .- etraight-lina340, 000 1) We will begin by summarizing Moment cost structure. Use the information for W from Q11 & 12 of HWl .1 assuming they sold all 1,000 drum sets produced during their rst year of operations, Year 1. Note: Instructor plans to demonstrate the summarizing your connect information to this table during a live zoom session to be announced. a) Complete the summary table below. (enter amounts for each pale blue cell) Remember to use 2 decimals for \"cost per unit\" values. TrueBeat Original Cost Structure ( connect given data] Total Helpful Hints Dollars (**) Given ABOVE table on connect Average per Unit Sales price per unit Costs: Direct materials 5 Variable/Product Direct labor $ Variable/Product Variable overhead $ Variable/Product Variable selling 8; admin expense _ Variabl/I'en'Dd Total variable costs per unit _ Add cost rows above Fixed overhead Fixed/Product Fixed selling & admin expense Fixed/Period (**) Indicates the Cost Behavior column and Cost Function Column under which the specic costs appear in the table completed for Q11 of HW1.1. b) In question 12 of connect, you were asked to summarize all production costs. These production costs (variable and fixed) are considered Cost of Goods Sold under Absorption Costing. Period costs (variable and fixed) are expensed as selling and administrative expenses. Use your table in Q12 on connect as well as the information summarized in the table above to help you complete the Absorption Costing Income Statement below. You need to provide numbers for each of the pale blue cells. Note Assume TrueBeat sold all 1,000 drum sets they manufactured (stated in connect information). Project 1: Page 1 of TrueBeat Income Statement (Absorption Costing) For Year 1 ending December 31 Year 1 Units Produced 1,000 Units Sold 1,000 Sales revenue Cost of Goods Sold: Variable Product Costs Fixed Product Costs (FOH) Total COGS Gross Margin Variable S&A expenses Fixed S&A expenses Total S&A expensesc) Use the information summarized above and elsewhere from connect Q11 and 12 to complete the contribution margin income statement below using variable costing. Note - You should get the same Net Operating Income, NOI as in b) above. You should have numbers in each pale blue cell. TrueBeat Income Statement (Variable Costing) For Year 1 ending December 31 Year 1 Units Produced 1,000 Units Sold 1,000 Sales revenue Variable production costs Variable S&A expenses Total variable expenses Contribution Margin Fixed Overhead Fixed S&A expenses Total Fixed Expenses Net Operating Income

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