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variable and absorption costing exercise Consider the following information: Beginning inventory (units) Budgeted units to be produced Actual units produced Units sold Variable manufacturing costs

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Consider the following information: Beginning inventory (units) Budgeted units to be produced Actual units produced Units sold Variable manufacturing costs per unit produced Variable marketing costs per unit sold Budgeted fixed manufacturing costs Fixed marketing costs Selling price per unit Variable costing operating income Absorption costing operating income Variable costing beginning inventory ($) Absorption costing beginning inventory ($) Variable costing ending inventory ($) Absorption costing ending inventory ($) PVV Allocated fixed manufacturing costs Q1 0 20,000 19,000 A $150 $20 $500,000 $200,000 $300 B Q2 J 20,000 20,600 20,600 $150 $20 $500,000 $200,000 $300 $1,978,00 0 Q3 1,100 20,000 Q R $150 $20 $500,000 $200,000 $300 S K $1,859,000 $165,000 C D E F G H I T U L M N O P $75,000 $87,500 V $480,000 There are no price, efficiency, or spending variances, and any production-volume variance is directly written off to cost of goods in the quarter in which it occurs. Q1 A B C D E F G H I Q2 J K L M N O P Q3 Q R S T U V

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