Please help solve the rest of 2B Answer is not complete.Complete this question by entering your answers in the tabs below.Req 1Req ZAReq 2BReq 3AReq 3BPrepare an income statement for Year 1, Year 2, and Year 3. Assume the company uses variable costing.Haas CompanyVariable Costing Income StatementYear 1Year 2Year 3$S$Sales3,840,0003,200,0004,160,000Variable expenses:Variable cost of goods sold2,750,000 3,575,0003,300,00060,000Variable selling and administrative50,000 ✓65,000✔Total variable expenses✔3,360,000 2,800,000 3,640,000Contribution margin480,000400,000520,000Fixed expenses:330,000✔✔ 330,000✔330,000✔Fixed manufacturing overheadFixed selling and administrative150,000✔150,000 ✓150,000✔480,000480,000480,000Net operating income (loss)$0S (80,000)$ 40,000< Req 2AReq 3A >33333 Haas Company manufactures and sells one product. The following information pertains to each of the company's first three years ofoperations:Variable costs per unit:Manufacturing:Direct materialsDirect labor$ 29Variable manufacturing overhead$ 21$5$1Variable selling and administrativeFixed costs per year:Fixed manufacturing overhead$ 330,000Fixed selling and administrative expenses$ 150,000During its first year of operations, Haas produced 60,000 units and sold 60,000 units. During its second year of operations, itproduced 75,000 units and sold 50,000 units. In Its third year, Haas produced 40,000 units and sold 65,000 units. The selling price ofthe company's product is $64 per unit.Required:1. Compute the company's break-even point in unit sales.2. Assume the company uses variable costing:a. Compute the unit product cost for Year 1, Yeaand Year 3.b. Prepare an Income statement for Year 1, Year 2, and Year 3.3. Assume the company uses absorption costing:a. Compute the unit product cost for Year 1, Year 2, and Year 3.b. Prepare an Income statement for Year 1, Year 2, and Year 3.

Variable costing means that inventory is valued at variable manufacturing cost and fixed cost is…

Answered: Please help solve the rest of 2B

Business

Accounting

Please help solve the rest of 2B

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter18: Pricing And Profitability Analysis

Section: Chapter Questions

Problem 29P: Jellison Company had the following operating data for its first two years of operations: Jellison...

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