Business, 29.10.2021 02:00 nicolerabbit
Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 40,000 units and sold 32,000 units at a price of $140 per unit.
Manufacturing costs:
Direct materials per unit $60
Direct labor per unit $22
Variable overhead per unit $8
Fixed overhead for the year $480,000
Selling and administrative costs
Variable selling and administrative cost per unit $11
Fixed selling and administrative cost per year $110,000
Required:
Prepare its income statement for the year under variable costing.
Answers: 1
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Cool Sky reports the following costing data on its product for its first year of operations. During...
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