[The following information applies to the questions displayed below.] Chuck Wagon Grills, Incorporated, makes a barbecue grill it sells for $210. Data for last year's operations follow: Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor 0 26,400 22,200 4,200 Net operating income(loss) $ 50 80 Variable manufacturing overhead 20 Variable selling and administrative 10 $ 160 Total variable cost per unit Fixed costs: Fixed manufacturing overhead Fixed selling and administrative Total fixed costs $924,000 333,000 $ 1,257,000 Assume the company uses absorption costing. Prepare an income statement for last year. Chuck Wagon Grills, Incorporated Absorption Costing Income Statement 0 $0
[The following information applies to the questions displayed below.] Chuck Wagon Grills, Incorporated, makes a barbecue grill it sells for $210. Data for last year's operations follow: Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor 0 26,400 22,200 4,200 Net operating income(loss) $ 50 80 Variable manufacturing overhead 20 Variable selling and administrative 10 $ 160 Total variable cost per unit Fixed costs: Fixed manufacturing overhead Fixed selling and administrative Total fixed costs $924,000 333,000 $ 1,257,000 Assume the company uses absorption costing. Prepare an income statement for last year. Chuck Wagon Grills, Incorporated Absorption Costing Income Statement 0 $0
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 14E: For each of the following independent situations, calculate the missing values: 1. The Belen plant...
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