Please give me step by step instruction on how to get cost of goods manufactured using the following:Cost of Goods Manufactured, using Variable and Absorption CostingOn June 30, the end of the first year of operations, Johnson Industries, Inc., manufactured 6,100 units and sold 5,200 units. The following income statement was prepared, based on the variable costing concept:Johnson Industries, Inc.Variable Costing Income StatementFor the Year Ended June 30, 2016Sales $1,300,000 Variable cost of goods sold:  Variable cost of goods manufactured$732,000  Less inventory, June 30108,000  Variable cost of goods sold 624,000 Manufacturing margin $676,000 Variable selling and administrative expenses 156,000 Contribution margin $520,000 Fixed costs:  Fixed manufacturing costs$335,500  Fixed selling and administrative expenses104,000 439,500 Income from operations $80,500 Determine the unit cost of goods manufactured, based on (a) the variable costing concept and (b) the absorption costing concept.Variable costing$Absorption costing$Liz C

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Asked Oct 15, 2019
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Please give me step by step instruction on how to get cost of goods manufactured using the following:

Cost of Goods Manufactured, using Variable and Absorption Costing

On June 30, the end of the first year of operations, Johnson Industries, Inc., manufactured 6,100 units and sold 5,200 units. The following income statement was prepared, based on the variable costing concept:

Johnson Industries, Inc.
Variable Costing Income Statement
For the Year Ended June 30, 2016
Sales   $1,300,000  
Variable cost of goods sold:    
Variable cost of goods manufactured $732,000    
Less inventory, June 30 108,000    
Variable cost of goods sold   624,000  
Manufacturing margin   $676,000  
Variable selling and administrative expenses   156,000  
Contribution margin   $520,000  
Fixed costs:    
Fixed manufacturing costs $335,500    
Fixed selling and administrative expenses 104,000   439,500  
Income from operations   $80,500  

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

Variable costing $
Absorption costing $

Liz C

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Calculate the unit cost of goods manufactured based...

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Variable cost of goods manufactured Unit cost of goods manufactured Number of units produced $732,000 6,100 units =$120 per unit

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