Income statement: Absorption costing 18 19 Sales FORMULA1 20 Cost of goods sold: 21 Variable manufacturing costs FORMULA2 22 Fixed manufacturing costs FORMULA3 23 ---------- 24 Total goods available for sale $0 25 Less ending inventory FORMULA4 26 ---------- 27 Cost of goods sold $0 28 ---------- 29 Gross profit $0 30 Fixed selling expenses FORMULA5 31 Variable selling expenses FORMULA6 32 ---------- 33 Operating income $0 34 ========== _ _ _ 35 Income statement: Variable costing 36 37 Sales $0 38 Cost of goods sold: 39 Variable manufacturing costs FORMULA7 40 Less ending inventory FORMULA8 41 ---------- 42 Variable cost of goods sold $0 43 ---------- 44 Manufacturing margin $0 45 Variable selling expenses FORMULA9 46 ---------- 47 Contribution margin $0 48 Fixed manufacturing costs FORMULA10 49 Fixed selling expenses 0 50 ---------- 51 Operating income $0 52 ==========
Income statement: Absorption costing 18 19 Sales FORMULA1 20 Cost of goods sold: 21 Variable manufacturing costs FORMULA2 22 Fixed manufacturing costs FORMULA3 23 ---------- 24 Total goods available for sale $0 25 Less ending inventory FORMULA4 26 ---------- 27 Cost of goods sold $0 28 ---------- 29 Gross profit $0 30 Fixed selling expenses FORMULA5 31 Variable selling expenses FORMULA6 32 ---------- 33 Operating income $0 34 ========== _ _ _ 35 Income statement: Variable costing 36 37 Sales $0 38 Cost of goods sold: 39 Variable manufacturing costs FORMULA7 40 Less ending inventory FORMULA8 41 ---------- 42 Variable cost of goods sold $0 43 ---------- 44 Manufacturing margin $0 45 Variable selling expenses FORMULA9 46 ---------- 47 Contribution margin $0 48 Fixed manufacturing costs FORMULA10 49 Fixed selling expenses 0 50 ---------- 51 Operating income $0 52 ==========
Chapter5: Process Costing
Section: Chapter Questions
Problem 10MC: Direct material costs $3 per unit, direct labor costs $5 per unit, and overhead is applied at the...
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VAR | COST Student Name => | ______________________ | |
Section Number => | ______________________ | ||
- | - | - | - |
- | - | - | - |
6 | Data Section: | ||
7 | |||
8 | Actual production in units | 100,000 | |
9 | Sales in units | 80,000 | |
10 | Sales price per unit | $30 | |
11 | Variable |
$14 | |
12 | Variable selling costs per unit | $2 | |
13 | Fixed manufacturing costs | $630,000 | |
14 | Fixed selling expenses | $100,000 | |
28 | |||
15 | - | - | - |
16 | Answer Section: | ||
17 | Income statement: Absorption costing | ||
18 | |||
19 | Sales | FORMULA1 | |
20 | Cost of goods sold: | ||
21 | Variable manufacturing costs | FORMULA2 | |
22 | Fixed manufacturing costs | FORMULA3 | |
23 | ---------- | ||
24 | Total goods available for sale | $0 | |
25 | Less ending inventory | FORMULA4 | |
26 | ---------- | ||
27 | Cost of goods sold | $0 | |
28 | ---------- | ||
29 | Gross profit | $0 | |
30 | Fixed selling expenses | FORMULA5 | |
31 | Variable selling expenses | FORMULA6 | |
32 | ---------- | ||
33 | Operating income | $0 | |
34 | ========== | ||
_ | _ | _ | |
35 | Income statement: Variable costing | ||
36 | |||
37 | Sales | $0 | |
38 | Cost of goods sold: | ||
39 | Variable manufacturing costs | FORMULA7 | |
40 | Less ending inventory | FORMULA8 | |
41 | ---------- | ||
42 | Variable cost of goods sold | $0 | |
43 | ---------- | ||
44 | Manufacturing margin | $0 | |
45 | Variable selling expenses | FORMULA9 | |
46 | ---------- | ||
47 | Contribution margin | $0 | |
48 | Fixed manufacturing costs | FORMULA10 | |
49 | Fixed selling expenses | 0 | |
50 | ---------- | ||
51 | Operating income | $0 | |
52 | ========== |
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