owesubject-Accounting Ida Sidha Karya Company is a family-owned company located in the village of Gianyar on the island of Bali in Indonesia. The companyproduces a handcrafted Balinese musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold to aCanadian importer for $910. Selected data for the company's operations last year follow:Units in beginning inventoryUnits producedUnits soldUnits in ending inventoryVariable costs per unit:Direct materials -Direct labourVariable manufacturing overheadVariable selling and administrative.Fixed costs:Fixed manufacturing overheadFixed selling and administrative$$SalesCost of goods sold iGross marginSelling and administrative expensesOperating income$$30027030$69,000$ 26,000An absorption costing income statement prepared by the company's accountant appears below:$245,700203,850140350351541,85030,050$ 11,800the d requirea:1. Determine how much of the ending inventory consists of fixed manufacturing overhead cost deferred in inventory to the next period.Total fixed manufacturing overhead in onding inventory2. Prepare an income statement for the year using the variable costing method.Variable expensesFixed expensesIDA SIDHA KARYA COMPANYVariable Costing Income StatementS0000

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Description: owesubject-Accounting Ida Sidha Karya Company is a family-owned company located in the village of Gianyar on the island of Bali in Indonesia. The companyproduces a handcrafted Balinese musical instrument called a gamelan that is similar to a xylophon

Contribution margin=Sales - variable costNet operating income = Contribution margin - fixed expenses

Business

Accounting

requirea: . Determine how much of the ending inventory consists of fixed manufacturing overhead cost deferred in inventory to the next period. Total fixed manufacturing overhead in onding inventory 2. Prepare an income statement for the year using the variable costing method. IDA SIDHA KARYA COMPANY Variable Costing Income Statement Variable expenses Fixed expenses 0 0 0 0

requirea: . Determine how much of the ending inventory consists of fixed manufacturing overhead cost deferred in inventory to the next period. Total fixed manufacturing overhead in onding inventory 2. Prepare an income statement for the year using the variable costing method. IDA SIDHA KARYA COMPANY Variable Costing Income Statement Variable expenses Fixed expenses 0 0 0 0

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter10: Cost Analysis For Management Decision Making

Section: Chapter Questions

Problem 2MC: Denali Company manufactures household products such as windows, light fixtures, ladders, and work...

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