Variable costing and full costing computations

Ural Mining Co. manufactures a single product. Shown below are cost and sales data for the first year of operations. During the year, 8,000 finished units were manufactured, of which 6,000 were sold.

SHOW ALL WORK!!!!!!!!

Instructions:

(a) Compute the per-unit manufacturing cost that will be used in the valuation of ending inventory and in the determination of the cost of goods sold, assuming the use of:

(1) Variable costing procedures. $__________ per unit

(2) Full costing procedures. $__________ per unit

(b) Using variable costing procedures, compute the following:

(1) Cost of goods sold: $__________

(2) Ending inventory of finished goods: $__________

(3) Income from operations: $__________

(4) Contribution Margin: $__________

(c) Using full costing procedures, compute the following:

(1) Cost of goods sold: $__________

(2) Ending inventory of finished goods: $__________

(3) Income from operations: $__________

(4) Gross Profit: $_________

(d) Now-- assuming Production of 12000 units(but Sales quantity does NOT change)

compute the following:

Compute the per-unit manufacturing cost that will be used in the valuation of ending inventory and in the determination of the cost of goods sold, assuming the use of:

(1) Variable costing procedures. $__________ per unit

(2) Full costing procedures. $__________ per unit

(e) Using variable costing procedures, compute the following:

(1) Cost of goods sold: $__________

(2) Ending inventory of finished goods: $__________

(3) Income from operations: $__________

(4) Contribution Margin: $__________

(f) Using full costing procedures, compute the following:

(1) Cost of goods sold: $__________

(2) Ending inventory of finished goods: $__________

(3) Income from operations: $__________

(4) Gross Profit: $_________