Riyadh computers planned and actually manufactured 200,000 units of its single product in 2020, its first year of operation.Variable manufacturing cost was $20 per unit produced.Variable operating (nonmanufacturing) cost was $10 per unit sold.Planned and actual fixed manufacturing costs were $600,000.Planned and actual fixed operating (nonmanufacturing) costs totaled $400,000.Riyadh computers sold 120,000 units of product at $40 per unit.Required: prepare income statement and calculate1. Riyadh computers operating income using absorption costing for the year 2020(5 Points)2. Riyadh computers operating income using variable costing for the year 2020. (5 Points)Note: Show supporting calculations. 2:26 1. . . اسایمنت 2 - تكاليف المحاسبة LAMIS (АССT 202Spring 2020-2021ASSGINMENT - 2(Form A)Absorption costing and variable costingRiyadh computers planned and actually manufactured 200,000 units of its singleproduct in 2020, its first year of operation.Variable manufacturing cost was $20 per unit produced.Variable operating (nonmanufacturing) cost was $10 per unit sold.Planned and actual fixed manufacturing costs were $600,000.Planned and actual fixed operating (nonmanufacturing) costs totaled $400,000.Riyadh computers sold 120,000 units of product at $40 per unit.Required: prepare income statement and calculate1. Riyadh computers operating income using absorption costing for the year 2020(5Points)2. Riyadh computers operating income using variable costing for the year 2020, (5Points)Note: Show supporting calculations.

Riyadh Computers Traditional Income Statement Sales (120,000*40) 4800,000 Less: Cost of…

Answered: iyadh computers planned and actually…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Question

Riyadh computers planned and actually manufactured 200,000 units of its single product in 2020, its first year of operation. Variable manufacturing cost was $20 per unit produced. Variable operating (nonmanufacturing) cost was $10 per unit sold. Planned and actual fixed manufacturing costs were $600,000. Planned and actual fixed operating (nonmanufacturing) costs totaled $400,000. Riyadh computers sold 120,000 units of product at $40 per unit. Required: prepare income statement and calculate 1. Riyadh computers operating income using absorption costing for the year 2020(5 Points) 2. Riyadh computers operating income using variable costing for the year 2020. (5 Points) Note: Show supporting calculations.

2:26 1
. . . اسایمنت 2 - تكاليف المحاسبة LAMIS (
АССT 202
Spring 2020-2021
ASSGINMENT - 2(Form A)
Absorption costing and variable costing
Riyadh computers planned and actually manufactured 200,000 units of its single
product in 2020, its first year of operation.
Variable manufacturing cost was $20 per unit produced.
Variable operating (nonmanufacturing) cost was $10 per unit sold.
Planned and actual fixed manufacturing costs were $600,000.
Planned and actual fixed operating (nonmanufacturing) costs totaled $400,000.
Riyadh computers sold 120,000 units of product at $40 per unit.
Required: prepare income statement and calculate
1. Riyadh computers operating income using absorption costing for the year 2020(5
Points)
2. Riyadh computers operating income using variable costing for the year 2020, (5
Points)
Note: Show supporting calculations.

Expert Solution

Step by step

Solved in 4 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions