i need that last two parts (D AND E) Wei Nan Company manufactures and sells personal organizers. The following are the operating data for thecompany for 2021 and 2022:20212022Units produced60,00050,000Units sold54,00054,000Selling price per unitVariable costs per unit$250$250Direct materials$80$80Direct labour4040Variable overhead3535Selling expensesFixed manufacturing overheadFixed selling and administrative expenses3030$2,500,000 S2,500,000$300,000$ 300,000There was no beginning inventory on January 1, 2021. The company used the FIFO method to calculate the cost ofinventories. Ignore income taxes.Instructionsa. Prepare income statements for 2021 and 2022 using the absorption-costing method.b. Prepare income statements for 2021 and 2022 using the variable-costing method.c. Reconcile the absorption-costing and variable-costing net income figures for 2021 and 2022.d. Prepare income statements for 2021 and 2022 using the throughput-costing method.e. Reconcile the throughput-costing and variable-costing net income figures for 2021 and 2022.

2021 2022 Units Produced 60000 50000 Units Sold 54000 54000 Selling Price per Unit $…

Answered: i need that last two parts (D AND E)

Business

Accounting

i need that last two parts (D AND E)

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 1PB: The following product costs are available for Stellis Company on the production of erasers: direct...

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Question

i need that last two parts (D AND E)

Wei Nan Company manufactures and sells personal organizers. The following are the operating data for the
company for 2021 and 2022:
2021
2022
Units produced
60,000
50,000
Units sold
54,000
54,000
Selling price per unit
Variable costs per unit
$250
$250
Direct materials
$80
$80
Direct labour
40
40
Variable overhead
35
35
Selling expenses
Fixed manufacturing overhead
Fixed selling and administrative expenses
30
30
$2,500,000 S2,500,000
$300,000
$ 300,000
There was no beginning inventory on January 1, 2021. The company used the FIFO method to calculate the cost of
inventories. Ignore income taxes.
Instructions
a. Prepare income statements for 2021 and 2022 using the absorption-costing method.
b. Prepare income statements for 2021 and 2022 using the variable-costing method.
c. Reconcile the absorption-costing and variable-costing net income figures for 2021 and 2022.
d. Prepare income statements for 2021 and 2022 using the throughput-costing method.
e. Reconcile the throughput-costing and variable-costing net income figures for 2021 and 2022.

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