On March 31, the end of the first year of operations, Barnard Inc., manufactured 3,200 units and sold 2,800 units. The following income statement was prepared, based on the variable costing concept: Barnard Inc.Variable Costing Income StatementFor the Year Ended March 31, 20Y1 Sales   $560,000    Variable cost of goods sold:     Variable cost of goods manufactured $307,200      Inventory, March 31 (38,400)     Total variable cost of goods sold   (268,800)   Manufacturing margin   $291,200    Total variable selling and administrative expenses   (67,200)   Contribution margin   $224,000    Fixed costs:     Fixed manufacturing costs $140,800      Fixed selling and administrative expenses 44,800        Total fixed costs     (185,600)   Operating income   $38,400    Determine the unit cost of goods manufactured, based on (a) the variable costing concept and (b) the absorption costing concept. Variable costing $ Absorption costing $

Question

On March 31, the end of the first year of operations, Barnard Inc., manufactured 3,200 units and sold 2,800 units. The following income statement was prepared, based on the variable costing concept:

Barnard Inc.
Variable Costing Income Statement
For the Year Ended March 31, 20Y1
Sales   $560,000   
Variable cost of goods sold:    
Variable cost of goods manufactured $307,200     
Inventory, March 31 (38,400)    
Total variable cost of goods sold   (268,800)  
Manufacturing margin   $291,200   
Total variable selling and administrative expenses   (67,200)  
Contribution margin   $224,000   
Fixed costs:    
Fixed manufacturing costs $140,800     
Fixed selling and administrative expenses 44,800       
Total fixed costs     (185,600)  
Operating income   $38,400   

Determine the unit cost of goods manufactured, based on (a) the variable costing concept and (b) the absorption costing concept.

Variable costing $
Absorption costing $

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