Denton Company manufactures and sells a single product Cost data for the product are given: Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Total variable cost per unit Fixed costs per month: Fixed manufacturing overhead $ 84,000 Fixed selling and administrative 166,000 Total fixed cost per month $ 250,000 The product sells for $45 per unit. Production and sales data for July and August, the first two months of operations, follow: July August Units Produced 21,000 21,000 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Units Sold 17,000 25,000 Required: 1. Determine the unit product cost under: a.Absorption costing. b. Variable costing. 10 The company's Accounting Department prepared the following absorption costing income statements for July and August July August $765,000 $1,125,000 357,000 2 19 408,000 200,000 $ 200,000 525,000 600,000 215,000 $ 384,000 2. Prepare variable costing income statements for July and August. 3. Reconcile the variable costing and absorption costing net operating incomes.

Denton Company manufactures and sells a single product Cost data for the product are given: Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Total variable cost per unit Fixed costs per month: Fixed manufacturing overhead $ 84,000 Fixed selling and administrative 166,000 Total fixed cost per month $ 250,000 The product sells for $45 per unit. Production and sales data for July and August, the first two months of operations, follow: July August Units Produced 21,000 21,000 Sales Cost of goods sold Gross margin Selling and administrative expenses Net operating income Units Sold 17,000 25,000 Required: 1. Determine the unit product cost under: a.Absorption costing. b. Variable costing. 10 The company's Accounting Department prepared the following absorption costing income statements for July and August July August $765,000 $1,125,000 357,000 2 19 408,000 200,000 $ 200,000 525,000 600,000 215,000 $ 384,000 2. Prepare variable costing income statements for July and August. 3. Reconcile the variable costing and absorption costing net operating incomes.

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Description: answer in text form please (without image) Denton Company manufactures and sells a single product. Cost data for the product are given:Variable costs per unit:Direct materialsDirect laborVariable manufacturing overheadVariable selling and administrat

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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