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Manufacturing costs Direct materials per unit Direct labor per unit Variable overhead per unit Cool Sky reports the following costing data on its product for its first year of operations. During this first the company produced 40,000 units and sold 32,000 units at a price of $130 per unit. Fixed overhead for the year Selling and administrative costs Variable selling and administrative cost per unit Fixed selling and administrative cost per year Saved Per unit product cost using: Cost per unit Fixed overhead for the year Selling and administrative costs Variable selling and administrative cost per unit Fixed selling and administrative cost per year Net income (loss) $ $ $ 2a. Assume the company uses variable costing. Determine its product cost per unit. Variable costing 54 20 6 COOL SKY Variable Costing Income Statement $440,000 $ $115,000 9 $440,000 $ $115,000 Help Sav 9 2b. Assume the company uses variable costing. Prepare its income statement for the year under variat Mel

Manufacturing costs Direct materials per unit Direct labor per unit Variable overhead per unit Cool Sky reports the following costing data on its product for its first year of operations. During this first the company produced 40,000 units and sold 32,000 units at a price of $130 per unit. Fixed overhead for the year Selling and administrative costs Variable selling and administrative cost per unit Fixed selling and administrative cost per year Saved Per unit product cost using: Cost per unit Fixed overhead for the year Selling and administrative costs Variable selling and administrative cost per unit Fixed selling and administrative cost per year Net income (loss) $ $ $ 2a. Assume the company uses variable costing. Determine its product cost per unit. Variable costing 54 20 6 COOL SKY Variable Costing Income Statement $440,000 $ $115,000 9 $440,000 $ $115,000 Help Sav 9 2b. Assume the company uses variable costing. Prepare its income statement for the year under variat Mel

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
Chapter9: Standard Costing: A Functional-based Control Approach
Section: Chapter Questions
Problem 32P: Petrillo Company produces engine parts for large motors. The company uses a standard cost system for...
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Manufacturing costs Direct materials per unit Direct labor per unit Variable overhead per unit Cool Sky reports the following costing data on its product for its first year of operations. During this first the company produced 40,000 units and sold 32,000 units at a price of $130 per unit. Fixed overhead for the year Selling and administrative costs Variable selling and administrative cost per unit Fixed selling and administrative cost per year Per unit product cost using: Saved Cost per unit able costing Fixed overhead for the year Selling and administrative costs Variable selling and administrative cost per unit Fixed selling and administrative cost per year Net income (loss) 2a. Assume the company uses variable costing. Determine its product cost per unit. $ $ $ $440,000 $ COOL SKY Variable Costing Income Statement 54 20 6 9 $115,000 $440,000 $ $115,000 Help Say 9 2b. Assume the company uses variable costing. Prepare its income statement for the year under variat Mel
Transcribed Image Text:Manufacturing costs Direct materials per unit Direct labor per unit Variable overhead per unit Cool Sky reports the following costing data on its product for its first year of operations. During this first the company produced 40,000 units and sold 32,000 units at a price of $130 per unit. Fixed overhead for the year Selling and administrative costs Variable selling and administrative cost per unit Fixed selling and administrative cost per year Per unit product cost using: Saved Cost per unit able costing Fixed overhead for the year Selling and administrative costs Variable selling and administrative cost per unit Fixed selling and administrative cost per year Net income (loss) 2a. Assume the company uses variable costing. Determine its product cost per unit. $ $ $ $440,000 $ COOL SKY Variable Costing Income Statement 54 20 6 9 $115,000 $440,000 $ $115,000 Help Say 9 2b. Assume the company uses variable costing. Prepare its income statement for the year under variat Mel
[The following information applies to the questions displayed below.] Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 40,000 units and sold 32,000 units at a price of $130 per unit. uiz Manufacturing costs Direct materials per unit Direct labor per unit Variable overhead per unit Fixed overhead for the year Selling and administrative costs Variable selling and administrative cost per unit Fixed selling and administrative cost per year mape Manufacturing costs Direct materials per unit Direct labor per unit Variable overhead per unit Per unit product cost using: Direct materials per unit Direct labor per unit Variable overhead per unit Fixed overhead per unit Fixed overhead for the year Selling and administrative costs Variable selling and administrative cost per unit Fixed selling and administrative cost per year Cost per unit iles ss: Variable costs COOL SKY Absorption Costing Income Statement Variable overhead costs Variable selling and administrative expenses tal variable costs ontribution margin 1a. Assume the company uses absorption costing. Determine its product cost per unit. xed overhead costs xed selling and administrative costs Absorption costing $ 54.00 20.00 6.00 $ tal fixed expenses et income (loss) Saved $ 2,560,000 352,000 440,000 100,000 80.00 $ $ $ $440,000 Assume the company uses absorption costing. Prepare its income statement for the year under absorption c $4,160,000 2,912,000 1,248,000 54 20 6 $ $115,000 540,000 S 708,000 $ $ $ $440,000 54 20 6 $ $115,000 9 Help Hi Save
Transcribed Image Text:[The following information applies to the questions displayed below.] Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 40,000 units and sold 32,000 units at a price of $130 per unit. uiz Manufacturing costs Direct materials per unit Direct labor per unit Variable overhead per unit Fixed overhead for the year Selling and administrative costs Variable selling and administrative cost per unit Fixed selling and administrative cost per year mape Manufacturing costs Direct materials per unit Direct labor per unit Variable overhead per unit Per unit product cost using: Direct materials per unit Direct labor per unit Variable overhead per unit Fixed overhead per unit Fixed overhead for the year Selling and administrative costs Variable selling and administrative cost per unit Fixed selling and administrative cost per year Cost per unit iles ss: Variable costs COOL SKY Absorption Costing Income Statement Variable overhead costs Variable selling and administrative expenses tal variable costs ontribution margin 1a. Assume the company uses absorption costing. Determine its product cost per unit. xed overhead costs xed selling and administrative costs Absorption costing $ 54.00 20.00 6.00 $ tal fixed expenses et income (loss) Saved $ 2,560,000 352,000 440,000 100,000 80.00 $ $ $ $440,000 Assume the company uses absorption costing. Prepare its income statement for the year under absorption c $4,160,000 2,912,000 1,248,000 54 20 6 $ $115,000 540,000 S 708,000 $ $ $ $440,000 54 20 6 $ $115,000 9 Help Hi Save
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