Prepare an absorption-casting income statement, with one column showing the results if 180,000 units are produced and one column showing the results if 280,000 units are produced. Units produced Units sold (b) Sales Less V Gross profit Less Net Income Cost of goods sold BLOSSOMMOTORS DIVISION Income Statement For the Year Ended 2022 Absorption Costing Selling and administrative expenses eTextbook and Media 280,000 -280000 -2240000 For the Year Ended 2022 Variable Costing -1260000 BLOSSOMMOTORS DIVISION Income Statement -980000 -151100 -828900 $ 180,000 990 101 Prepare a variable-costing income statement, with one column showing the results if 180,000 units are produced and one column showing the results if 280,000 units are produced. Attempts: 2 of 2 used

Prepare an absorption-casting income statement, with one column showing the results if 180,000 units are produced and one column showing the results if 280,000 units are produced. Units produced Units sold (b) Sales Less V Gross profit Less Net Income Cost of goods sold BLOSSOMMOTORS DIVISION Income Statement For the Year Ended 2022 Absorption Costing Selling and administrative expenses eTextbook and Media 280,000 -280000 -2240000 For the Year Ended 2022 Variable Costing -1260000 BLOSSOMMOTORS DIVISION Income Statement -980000 -151100 -828900 $ 180,000 990 101 Prepare a variable-costing income statement, with one column showing the results if 180,000 units are produced and one column showing the results if 280,000 units are produced. Attempts: 2 of 2 used

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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During Heaton Company's first two years of operations, it reported absorption costing net operating income as follows: Sales (@ $62 per unit) Year 1 $ 1,178,000 Gross margin 513,000 Selling and administrative 303,000 expenses* Net operating $ income Cost of goods sold (@$35 665,000 1,015,000 per unit) Year 2 210,000 $ 1,798,000 783,000 333,000 $ 450,000 *$3 per unit variable; $246,000 fixed each year. The company's $35 unit product cost is computed as follows: Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead ($360,000 ÷ 24,000 units) Absorption costing unit product cost $9 9 2 15 $ 35
Ivanhoe Company has the following information available for September 2022. Unit selling price of video game consoles $480 Unit variable costs $336 Total fixed costs $63,360 Units sold 600 Compute the unit contribution margin. Unit contribution margin eTextbook and Media $ 144 Prepare a CVP income statement. Sales Variable Costs Contribution Margin Fixed Costs $ IVANHOE COMPANY CVP Income Statement For the Month Ended September 30, 2022 Total Per Unit Perc 480 $ 336 144 $ 63360 Net Income/(Loss) = $ (63216) eTextbook and Media Compute Ivanhoe' break-even point in sales units. Break-even point in units units
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Please give me step by step instruction on how to get cost of goods manufactured using the following: Cost of Goods Manufactured, using Variable and Absorption Costing On June 30, the end of the first year of operations, Johnson Industries, Inc., manufactured 6,100 units and sold 5,200 units. The following income statement was prepared, based on the variable costing concept: Johnson Industries, Inc.Variable Costing Income StatementFor the Year Ended June 30, 2016 Sales $1,300,000 Variable cost of goods sold: Variable cost of goods manufactured $732,000 Less inventory, June 30 108,000 Variable cost of goods sold 624,000 Manufacturing margin $676,000 Variable selling and administrative expenses 156,000 Contribution margin $520,000 Fixed costs: Fixed manufacturing costs $335,500 Fixed selling and administrative expenses 104,000 439,500 Income from operations $80,500 Determine the unit cost of goods manufactured,…
Question Content Area Moon Company uses the variable cost method of applying the cost-plus approach to product pricing. The costs and expenses of producing and selling 75,000 units of Product T are as follows: Variable costs per unit: Direct materials $ 7.00 Direct labor 3.50 Factory overhead 1.50 Selling and administrative expenses 3.00 Total $15.00 Fixed costs: Line Item Description Amount Factory overhead $45,000 Selling and administrative expenses 20,000 Moon desires a profit equal to an 18% return on invested assets of $1,440,000. c. Determine the markup percentage for Product T. Round your answer to one decimal place.fill in the blank 1 of 1%
Required information Skip to question [The following information applies to the questions displayed below.] Oslo Company prepared the following contribution format income statement based on a sales volume of 1,000 units (the relevant range of production is 500 units to 1,500 units): Sales $ 25, 700 Variable expenses 13,900 Contribution margin 11, 800 Fixed expenses 7, 788 Operating income $ 4,012 7. If the variable cost per unit increases by $0.60, spending on advertising increases by $1,100, and unit sales increase by 250 units, what would be the operating income? (Do not round intermediate calculations.)
Solve operating income using variable costing.
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Based on the following information, prepare a contribution margin income statement assuming the company uses variable costing. Annual production Sales price Variable production cost per unit Direct materials 50,000 units $40 per unit $10 3 Direct labor $25 per unit Manufacturing overhead Fixed production costs 12. $150,000 each year; $3 per unit at 50,000 units of production Variable selling and administrative cost $1 per unit Fixed selling and administrative cost $100,000 each year Sales: А. Var. Production В. Var Selling & Admin 50,000 1,300,000 Contribution Margin С. Fixed Expenses: Fixed Mfg Overhead 150,000 Fixed Selling & Admin 100,000 250,000 Net Income D.