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Under absorption costing, find the following for January, February, and March 2020? 0 TV Plus Corporation manufactures and sells 50-inch television sets and uses standard
Under absorption costing, find the following for January, February, and March 2020?
0 TV Plus Corporation manufactures and sells 50-inch television sets and uses standard costing. Actual data The selling price per unit is $3,200. The budgeted level of production used to calculate the budgeted fixed relating to January, February, and March 2020 are as follows: 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. E: (Click to view the data.) Read the re Data Table Requirement 1. Prepare income statements for TV Plus in January, February, and March 2020 under (a) variable costing and (a). Prepare income statements for TV Plus in January, February, and March of 2020 under variable costing. January February March Complete the top half of the income statement for each month first, then complete the bottom portion. (Complete all input fields Unit data: January 2020 February 2020 March 2020 Beginning inventory 150 150 Revenues Production 1,000 950 1,025 Variable cost of goods sold: Sales 850 950 1,040 Beginning inventory Variable costs: Variable manufacturing costs Manufacturing cost per unit produced $ 950 $ 950 $ 950 Cost of goods available for sale Operating (marketing) cost per unit sold $ 825 $ 825 $ 825 Deduct ending inventory Fixed costs: Variable cost of goods sold Manufacturing costs $ 390,000 $ 390,000 $ 390,000 $ Operating (marketing) costs 120,000 $ 120,000 $ Variable operating costs 120,000 Contribution margin Print Done Revenues Cost of goods sold: Beginning inventory Variable manufacturing costs Allocated fixed manufacturing costs Cost of goods available for sale Deduct ending inventory Adj. for production-volume variance Cost of goods sold Gross margin Variable operating costs Fixed operating costs Operating incomeStep by Step Solution
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