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Variable Quantities Inc (VQ) makes office desks. Below is a listing of costs based on 800 desks produced or manufactured. Listing of costs to
Variable Quantities Inc (VQ) makes office desks. Below is a listing of costs based on 800 desks produced or manufactured. Listing of costs to manufacture 800 Units: AMOUNT $4,000 Costs a. Supplies used in production b. Sales Commission - $2 per unit sold c. Property taxes, Insurance & R&M in production area (fixed) d. Production labor to make product e. Production equipment depreciation, straight-line $12,000 $24,000 $8,000 $16,000 $15,000 g. G&A Expenses $24,000 h. Base Sales Salaries f. Materials used in production **REQUIRED part 1** 1) Calculate the unit cost to produce 800 units. Enter with no $ and two decimals. **REQUIRED part 2 ** Change in production quantities 2) Calculate the unit cost to produce 600 units. Enter with no $ and two decimals. 3) Calculate the unit cost to produce 1000 units. Enter with no $ and two decimals. **REQUIRED part 3* 4) Prepare a Multi-Step income statement based on a production quantity of 800 units. The accounting period is the month of Aug 2021. VQ sold 500 desks at $200 sales price each. You may present the operating expenses however you choose. For grading purposes I have asked you for Net Income on the following question. Question 8 7 pts Include in your PDF upload a multi-step income statement for VQ, Inc. For preliminary grading purposes enter the amount you calculated for Net Income or (Loss) here. Question 9 3 pts Balance Sheet info: Using the Income Statement and Production Cost data given for VQ, Inc, determine the amount of Inventory that the company would have reported on the balance sheet?
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