Question Absorption and Variable Costing Income Statements for Two Months and Analysis During the first month of operations ended July 31, Head Gear Inc. manufactured 33,400 hats, of which 31,400 were sold. Operating data for the month are summarized as follows Sales Manufacturing costs $282,600 $170,340 Direct materials Direct labor Variable manufacturing cost Fixed manufacturing cost 43,420 20,040 16,700 250,500 Selling and administrative expenses: Variable $15,700 Fixed 11,460 27,160 During August, Head Gear Inc. manufactured 29,400 designer hats and sold 31,400 hats. Operating data for August are summarized as follows: Sales Manufacturing costs $282,600 Direct materials Direct labor Variable manufacturing cost Fixed manufacturing cost $149,940 38,220 17,640 16,700 222,500 Selling and administrative expenses: Variable $15,700 Fixed 11,460 27,160

Variable Costing, Value of Ending Inventory, Operating Income Pattison Products, Inc., began operations in October and manufactured 42,000 units during the month with the following unit costs: Direct materials $4.30 Direct labor 2.30 Variable overhead 1.15 Fixed overhead* 6.30 Variable marketing cost 0.85 * Fixed overhead per unit = $264,600 / 42,000 units produced = $6.30 Total fixed factory overhead is $264,600 per month. During October, 40,800 units were sold at a price of $25.25, and fixed marketing and administrative expenses were $118,300. Required: Question Content Area 1. Calculate the cost of each unit using variable costing. Round the final answer to the nearest cent. $fill in the blank per unit 2. How many units remain in ending inventory?fill in the blank  What is the cost of ending inventory using variable costing?$fill in the blank Question Content Area 3. Prepare a variable-costing income statement for Pattison Products, Inc., for the month…

Variable Costing Income Statement On April 30, the end of the first month of operations, Joplin Company prepared the following income statement, based on the absorption costing concept: Joplin Company Absorption Costing Income Statement For the Month Ended April 30 Sales (5,600 units) Cost of goods sold: Cost of goods manufactured (6,600 units) Inventory, April 30 (900 units) Total cost of goods sold Gross profit Selling and administrative expenses Operating income Variable cost of goods sold: $138,600 (18,900) Fixed costs: $162,400 If the fixed manufacturing costs were $30,492 and the fixed selling and administrative expenses were $12,600, prepare an income statement according to the variable costing concept. Round all final answers to whole dollars. Joplin Company Variable Costing Income Statement For the Month Ended April 30 (119,700) $42,700 (25,720) $16,980

Estimated Income Statements, using Absorption and Variable Costing Prior to the first month of operations ending October 31, Marshall Inc. estimated the following operating results: Sales (23,200 x $81) $1,879,200   Manufacturing costs (23,200 units):   Direct materials 1,127,520   Direct labor 266,800   Variable factory overhead 125,280   Fixed factory overhead 148,480   Fixed selling and administrative expenses 40,400   Variable selling and administrative expenses 48,800   The company is evaluating a proposal to manufacture 25,600 units instead of 23,200 units, thus creating an ending inventory of 2,400 units. Manufacturing the additional units will not change sales, unit variable factory overhead costs, total fixed factory overhead cost, or total selling and administrative expenses. a. 1. Prepare an estimated income statement, comparing operating results if 23,200 and 25,600 units are manufactured in the absorption costing format. If an amount box does not…