Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations. 2020, the companyincurred the following costs. Variable Costs per Unit Direct materials $10.50 Direct labor $4.83 Variable manufacturing overhead Variable selling and administrative expenses S8.12 $5.46 Fixed Costs per Year $322.000 Fixed manufacturing overhead Fixed selling and administrative expenses $294.140 Siren Company sells the ishing lures for 535.00. During 2020, the company sold 79,000 lures and produced 92,000lures.
Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations. 2020, the companyincurred the following costs. Variable Costs per Unit Direct materials $10.50 Direct labor $4.83 Variable manufacturing overhead Variable selling and administrative expenses S8.12 $5.46 Fixed Costs per Year $322.000 Fixed manufacturing overhead Fixed selling and administrative expenses $294.140 Siren Company sells the ishing lures for 535.00. During 2020, the company sold 79,000 lures and produced 92,000lures.
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter2: Basic Cost Management Concepts
Section: Chapter Questions
Problem 35P: Orman Company produces neon-colored covers for tablets (e.g., iPads). For last year, Orman reported...
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Transcribed Image Text:Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations. 2020, the companyincurred the
following costs.
Variable Costs per Unit
Direct materials
$10.50
Direct labor
$4.83
Variable manufacturing overhead
Variable selling and administrative expenses
S8.12
$5.46
Fixed Costs per Year
$322.000
Fixed manufacturing overhead
Fixed selling and administrative expenses
$294.140
Siren Company sells the ishing lures for 535.00. During 2020, the company sold 79,000 lures and produced 92,000lures.
Transcribed Image Text:Prepare a variable costing income statement for 2020. (Enter negative amounts using either a negative sign preceding the number
es-45 or parentheses eg (45))
SIREN COMPANY
Income Statement
Variable Costing
>
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