You are the CEO of ABC, a company that makes and sells OP1 unique chemical goods. The yearly book closure occurs in three weeks, at the middle of July, 2022. While you have committed to shareholders that you would make a profit of $1,000,000 this year, the interim financial report indicates a profit of $900,000, which is $100,000 less than the aim. If you do not make a profit of $1,000,000 this year, you may lose your job as CEO. Long-term clients, according to the marketing director, can acquire 10,000 units of OP1 for $20 per unit before the middle of July. Manufacturing director have provided you the following manufacturing cost data to produce incremental units of OP1: Raw materials: $5/unit Direct labor: $4/unit Manufacturing overhead: $50,000 The manufacturing director noted that there is currently no completed item inventory, and has the ability to produce 50,000 pieces of OP1. 1. Given the existing year-to-date profit of $900,000, you need $100,000 gradually to reach the profit objective of $1,000,000 this year. If your success is judged by full costing, how many units do you advise the production director to create in order to achieve the $100,000 incremental profit? Show your Calculation. a. Please determine the number of units produced for Product X. Enter the number of production to calculate the quantity of direct materials and direct labor: (There is a limit of 50,000). Show your calculation. Number of OP1: b. Please enter the necessary figures in the column/rows when journalizing cost-related transactions in FULL COSTING. Show your calculation Balance Sheet:

Raw Materials	Direct Labor	Manufacturing Overhead	Work-in-progress Invetory	Finished Products	Cost of Goods Sold
XXXXXX		XXXXXX

XXXXXX = no data needed

Breakdown of Finished Product Invertory:

Raw Materials =
Direct Labor =
Manufacturing Overhead =

c. Complete income statement in Full Costing. Show your calculations. Incremental Income Statement of ABC from today to middle of July.

Sales Revenue	$200,000
Raw Materials
Direct Labor
Manufacturing Overhead
Less finished Goods Inventory
Total Cost of Goods Sold
Gross product

d. Complete statement of income according to VARIABLE COSTING in May. Show your calculation Balance Sheet:

Raw Materials	Direct Labor	Manufacturing Overhead	Work-in-progress Invetory	Finished Products	Cost of Goods Sold
					$900,000
XXXXXX		XXXXXX

XXXXXX = no data needed Breakdown of Finished Product Invertory:

Raw Materials =	$200,000
Direct Labor =	$160,000
Manufacturing Overhead =	0