Yule Maps Bus Datacom Microsoft Project Unt Debat Dec Chapter 7 Graded Homework Saved 1 Exercise 7-1 (Algo) Variable and Absorption Costing Unit Product Costs (L07-13 214 points 02 OR 40 Units sold Ida Company produces a handcrafted musical Instrument called a gametan that is similar to a xylophone. The gamelans are sold for $875. Selected data for the company's operations last year follow Units in beginning inventory Units produced 20,000 16,000 Units in ending Inventory 4.000 Variable costs per unit Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative $19 Fie cost Fixed manufacturing overhead $ 920,000 Find selling and administrative $750,000 Required: 1. Assume that the company uses absorption costing Compute the unit product cost for one gamelan. (Round your intermediate 2. Assume that the company uses variable costing, Compute the unit product cost for one gamelan. $250 1400 $.59 ces 1. Absorption costing unit product cost 2 Variable costing unit product cost MC GEW DI Proy 1 of 7 !!! Next > Type here to search TT 71F Clear M De stic Mind Unterne Stred Help Seve 6 - Chapter 7 Graded Homework 2 Exercise 7-6 (Algo) Variable and Absorption Costing Unit Product Costs and Income Statements (L07-4, LO7-2] 214 Lynch Company manufactures and sells a single product. The following costs were incurred during the company's first year of operations: 2:00:00 ellos Variable couts per unit Manufacturing Direct materials Direct labor Variable snufacturing overhead Variable selling and administrative Fixed costs per year! Fixed manufacturing overhead Find selling and administrative 512 $6 51 51 1 300.000 1 210,000 Reference During the year, the company produced 28.000 units and sold 15,000 units. The selling price of the company's product is 556 per unit. Required: 1. Assume that the company uses absorption costing a Compute the unit product cost b. Prepare an income statement for the year 2. Assume that the company uses variable costing a. Compute the unit product cost b. Prepare an income statement for the year Complete this question by entering your answers in the tabs below. M Graw Sad Chapter 7 Graded Homework 2 214 pour During the year, the company produced 28,000 units and sold 15,000 units. The selling price of the company's product is $56 per unit. Required: 1. Assume that the company uses absorption costing: a. Compute the unit product cost b. Prepare an income statement for the year. 2. Assume that the company uses variable costing a Compute the unit product cost. b. Prepare an income statement for the year, 02.07.20 Complete this question by entering your answers in the tabs below. im Req IA Reg 13 Reg 2 Reg 26 Compute the unit product cost. Assume that the company uses absorption costing Urut penduct.com $ 30 HIN Reg 10 > Chapter 7 Graded Homework Saved 2 During the year, the company produced 28,000 units and sold 15,000 units. The selling price of the company's product is $56 per unit 2.14 points Required: 1. Assume that the company uses absorption costing a. Compute the unit product cost, b. Prepare an income statement for the year. 2. Assume that the company uses variable costing: a. Compute the unit product cost. b. Prepare an income statement for the year. 02.07.10 eBook Complete this question by entering your answers in the tabs below. H Print Req 1A Reg 13 Reg 2A Reg 28 References Compute the unit product cost. Assume that the company uses variable costing. Unit product cast $ 19 MC Graw Hill ma YouTube 9 Maps Business Data Com.. Microsoft Project 0 Unit 3: Debate/Disc Chapter 7 Graded Homework Soved 2 Required: 1. Assume that the company uses absorption costing: a. Compute the unit product cost. b. Prepare an income statement for the year. 2. Assume that the company uses variable costing: a. Compute the unit product cost. b. Prepare an income statement for the year. 214 points 02.0723 Complete this question by entering your answers in the tabs below. eBook Hint Reg 1A Reg 16 Reg 2A Reg 28 Prepare an income statement for the year. Assume that the company uses absorption costing. References Lynch Company Absorption Costing Income Statement Purchases $ Sales Gross margin Selling and administrative expense Net operating income s 840,000 450,000 390,000 233,000 157.000 Chapter 7 Graded Homework Saved 2 During the year, the company produced 28,000 units and sold 15.000 units. The selling price of the company's product is $56 per unit 2.14 points Required: 1. Assume that the company uses absorption costing a. Compute the unit product cost, b. Prepare an income statement for the year. 2. Assume that the company uses variable costing: a. Compute the unit product cost. b. Prepare an income statement for the year. 02.07.10 Book Complete this question by entering your answers in the tabs below. Hurt Paint Reg 1A Reg 1B Reg 2A Reg 28 References Compute the unit product cost. Assume that the company uses variable costing Unit product cost $ 19 Chapter / Graded Homework 2 Complete this question by entering your answers in the tabs below. Reg 1A Reg 16 Reg 2A Req 28 214 points Prepare an income statement for the year. Assume that the company uses variable costing. 0203 02:00-01 Hint References Lynch Company Variable Costing Income Statement Salos $ 840.000 Variable expenses Vanable cost of goods sold 3 285,000 Variable selling and administrative expense 15.000 Variable selling and administrative expense 540,000 Food manufacturing overhead 15 000 855 000 Contribution margin (15,000) Food expenses Food manufacturing overhoad 308,000 Fixed selling and administrative 210.000 Variable cost of goods sold 14.000 Vistiable seting and administrative expense 540.000 Net operating income 50555,000) Chapter 7 Graded Homework Seved 3 Exercise 7-2 (Algo) Variable Costing Income Statement; Explanation of Difference in Net Operating Income (L07-2] 2.14 points 02.06 Boo Hint Print References Ida Company produces a handcrafted musical Instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $910. Selected data for the company's operations last year follow: Units in beginning inventory Units produced 310 Units sold 280 Units in ending inventory 30 Variable costs per unit: Direct materials $130 Direct labor $ 350 Variable manufacturing overhead $50 Variable selling and administrative $ 40 Fixed costs Fixed manufacturing overhead $ 62,000 Fixed selling and administrative $ 26,000 The absorption costing income statement prepared by the company's accountant for last year appears below. Sales $ 254,800 Cost of goods sold 204,400 Gross margin 50,400 Selling and administrative expense 37200 Net operating income $ 13,200 Required: 1. Under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of last year? (Me