Denton Company manufactures and sells a single product. Cost data for the product are given:Variable costs per unitDirect materialsDirect laborVariable manufacturing overheadVariable selling and administrativeTotal variable cost per unitFixed costa per monthsFixed manufacturing overheadFixed selling and administrativeTotal fixed cost per monthUnitsProducedJuly21,000August 21,000The product sells for $45 per unit. Production and sales data for July and August, the first two months of operations, followUnitefoldSalesCost of goods soldGross marginSelling and administrative expenses.Set operating incone17,00025,000The company's Accounting Department has prepared the following absorption costing income statements for July and AugustRequired:1. Determine the unit product cost undera. Absorption costing.1610$ 84,000175,00D$ 259,000Show Transcribed TextAbsorption costing31$20b Variable costingJuly$765,000391,000374,000197,000$182,000b. Variable costing.2. Prepare variable costing income statements for July and August3. Reconcile the variable costing and absorption costing net operating incomesNet operating income)Complete this question by entering your answers in the tabs below.Required 1Required 1 Required 2 Required 3Determine the unit product cost under: (a) Absorption costing, (b) Variable costingUnit ProductCostShow Transcribed Text< Required 1JRequired 1 Required 2 Required 3Prepare variable costing income statements for July and August.Dention CompanyVariable Casting Income StatementAugust$1,125,000575,000550,000200,000$ 350Complete this question by entering your answers in the tabs below.350,000Show Transcribed TextJuly AuguRequired 2 >Variable costing net operating income (s)Add (deduct) faxed manufacturing overhead cest deferred in (released from)inventory under absorption costingAbsorption costing net operating income doss)< Required 2Complete this question by entering your answers in the tabs below.*Required 3 >ĈĈRequired 1 Required 2 Required 3Reconcile the variable costing and absorption costing net operating incomes. (Enter any losses or deductions as a negativevalue.)Reconciliation of Variable Costing and Absorption Casting Net Operating incomesJuly AugustRequired 3>

Name: Denton Company manufactures and sells a single product. Cost data for
Uploaded: 2024-03-20T06:32:49.000Z
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Description: Denton Company manufactures and sells a single product. Cost data for the product are given:Variable costs per unitDirect materialsDirect laborVariable manufacturing overheadVariable selling and administrativeTotal variable cost per unitFixed costa

Absorption CostingVariable CostingDirect Materials$6.00$6.00Direct Labor$10.00$10.00Variable…

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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 months Fixed manufacturing overhead Fixed selling and administrative Total fixed cost per month Units Produced 21,000 July 17,000 August 21,000 25,000 The product sells for $45 per unit. Production and sales data for July and August, the first two months of operations, follow Unite Sold Sales Cost of goods sold Gross margin Selling and administrative expenses Set operating income 16 10 The company's Accounting Department has prepared the following absorption costing income statements for July and August July $765,000 391,000 $ 20 $ 84,000 175,000 $ 259,000 Absorption costing Variable costing Show Transcribed Text 3 374,000 192,000 $162,000 $350,000 Required: 1. Determine the unit product cost under a. Absorption costing. b. Variable costing. 2. Prepare variable costing income statements for July and August 3. Reconcile the variable costing and absorption costing net operating incomes Complete this question by entering your answers in the tabs below. Net operating in Required 1 Required 2 Required 3 Determine the unit product cost under: (a) Absorption costing, (b) Variable costing Unik Product Cost Show Transcribed Text Required Required 1 Required 2 Required 3 Prepare variable costing income statements for July and August Denton Company Variable Casting Income Statement J August $1,125,000 575,000 550,000 200,000 Complete this question by entering your answers in the tabs below. < Required 2 July Show Transcribed Text Required 2 > August Complete this question by entering your answers in the tabs below. Required 3> * Ć Required 1 Required 2 Reconcile the variable costing and absorption costing net operating incomes. (Enter any losses or deductions as a negative. value] Reconciliation of Variable Costing and Absorption Cesting Net Operating incomes Variable costing net operating insome po Add (deduct) faed manufacturing overhead cest defered in (reased from inventory under absorption costing Absorption costing net operating income (los) Required 3 > August