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Haitek Bhd manufactures and sells home-freezer and uses standard costing. Actual data relating to March, April and May 2021 are as follows: Production Month March April May Beginning Inventory 0 Other related actual data: 600 600 Manufacturing cost per unit produced. Marketing cost per unit sold........ REQUIRED: 3,000 2,600 3,300 (i) (ii) Sales 2,400 2,600 3,450 Fixed Manufacturing costs per month $320,000 Fixed Operating & marketing costs per month.... $95,000 Selling price per unit.......... $1,700 $550 $200 The budgeted level of production used to calculate the predetermined fixed manufacturing cost per unit is 3,000 units. Any under/over applied fixed manufacturing cost due to change in production volume is charged to the cost of goods sold of the month it occurs. Assume there is no other variances related to fixed manufacturing. (a) Prepare income statements for Haitek in March, April and May 2021 under variable costing absorption costing

Haitek Bhd manufactures and sells home-freezer and uses standard costing. Actual data relating to March, April and May 2021 are as follows: Production Month March April May Beginning Inventory 0 Other related actual data: 600 600 Manufacturing cost per unit produced. Marketing cost per unit sold........ REQUIRED: 3,000 2,600 3,300 (i) (ii) Sales 2,400 2,600 3,450 Fixed Manufacturing costs per month $320,000 Fixed Operating & marketing costs per month.... $95,000 Selling price per unit.......... $1,700 $550 $200 The budgeted level of production used to calculate the predetermined fixed manufacturing cost per unit is 3,000 units. Any under/over applied fixed manufacturing cost due to change in production volume is charged to the cost of goods sold of the month it occurs. Assume there is no other variances related to fixed manufacturing. (a) Prepare income statements for Haitek in March, April and May 2021 under variable costing absorption costing

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter2: Basic Cost Management Concepts
Section: Chapter Questions
Problem 21E: Ellerson Company provided the following information for the last calendar year: During the year,...
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Haitek Bhd manufactures and sells home-freezer and uses standard costing. Actual data relating to March, April and May 2021 are as follows: Month March April May (a) Beginning Production Inventory 0 600 600 Other related actual data: 3,000 2,600 3,300 Manufacturing cost per unit produced Marketing cost per unit sold ..... REQUIRED: Sales 2,400 2,600 3,450 Fixed Manufacturing costs per month ..... Fixed Operating & marketing costs per month.... Selling price per unit........ $550 $200 The budgeted level of production used to calculate the predetermined fixed manufacturing cost per unit is 3,000 units. Any under/over applied fixed manufacturing cost due to change in production volume is charged to the cost of goods sold of the month it occurs. Assume there is no other variances related to fixed manufacturing. $320,000 $95,000 $1,700 Prepare income statements for Haitek in March, April and May 2021 under (i) variable costing (ii) absorption costing
Transcribed Image Text:Haitek Bhd manufactures and sells home-freezer and uses standard costing. Actual data relating to March, April and May 2021 are as follows: Month March April May (a) Beginning Production Inventory 0 600 600 Other related actual data: 3,000 2,600 3,300 Manufacturing cost per unit produced Marketing cost per unit sold ..... REQUIRED: Sales 2,400 2,600 3,450 Fixed Manufacturing costs per month ..... Fixed Operating & marketing costs per month.... Selling price per unit........ $550 $200 The budgeted level of production used to calculate the predetermined fixed manufacturing cost per unit is 3,000 units. Any under/over applied fixed manufacturing cost due to change in production volume is charged to the cost of goods sold of the month it occurs. Assume there is no other variances related to fixed manufacturing. $320,000 $95,000 $1,700 Prepare income statements for Haitek in March, April and May 2021 under (i) variable costing (ii) absorption costing
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