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Exercises 18-44 Profit Centers: Comparison of Variable and Full Costing [LO 18-3, 18-4) Yale Company manufactures...
Yale Company manufactures hair brushes that sell at wholesale for $3 per unit. The company had...
Yale Company manufactures hair brushes that sell at wholesale for $3 per unit. The company had no beginning inventory in the prior year. These data summarize the current and prior year operations: Prior Year Current Year Sales 2,900 units 5,500 units Production 4,200 units 4,200 units Production cost Factory—variable (per unit) $ 0.60 $ 0.60 —fixed $ 2,100 $ 2,100 Marketing—variable $ 0.40 $ 0.40 Administrative—fixed $ 500 $ 500 Required: 1. Prepare an income statement for each year based...
Just need requirement 2(variable costing income statement Yale Company manufactures hair brushes that sell at wholesale...
Just need requirement 2(variable costing income statement
Yale Company manufactures hair brushes that sell at wholesale for $3 per unit. The company had no beginning inventory in the prior year. These data summarize the current and prior year operations: Prior Year 1,800 units 2,000 units Current Year 2,200 units 2,000 units Sales Production Production cost Factory-variable (per unit) -fixed Marketing-variable Administrative-fixed $ 0.60 $1,000 $ 0.40 $ 500 $ 0.60 $1,000 $ 0.40 $ 500 Required: 1. Prepare an income...
Yale Company manufactures hair brushes that sell at wholesale for $3 per unit. The company had...
Yale Company manufactures hair brushes that sell at wholesale for $3 per unit. The company had no beginning inventory in the prior year. These data summarize the current and prior year operations: Prior Year Current Year Sales 2,000 units 2,800 units Production 2,400 units 2,400 units Production cost Factory—variable (per unit) $ 0.60 $ 0.60 —fixed $ 1,200 $ 1,200 Marketing—variable $ 0.40 $ 0.40 Administrative—fixed $ 500 $ 500 Required: 1. Prepare an income statement for each year based...
Yale Company manufactures hair brushes that sell at wholesale for $3 per unit. The company had...
Yale Company manufactures hair brushes that sell at wholesale for $3 per unit. The company had no beginning inventory in the prior year. These data summarize the current and prior year operations: Prior Year 3,200 units 4,800 units Current Year 6,400 units 4,800 units Sales Production Production cost Factory-variable (per unit) -fixed Marketing-variable Administrative-fixed $ 0.60 $2,400 $ 0.40 $ 500 $ 0.60 $2,400 $ 0.40 $ 500 Required: 1. Prepare an income statement for each year based on full...
Yale Company manufactures hair brushes that sell at wholesale for $3 per unit. The company had...
Yale Company manufactures hair brushes that sell at wholesale for $3 per unit. The company had no beginning inventory in the prior year. These data summarize the current and prior year operations: Prior Year Current Year Sales 3,400 units 7,000 units Production 5,200 units 5,200 units Production cost Factory—variable (per unit) $ 0.60 $ 0.60 —fixed $ 2,600 $ 2,600 Marketing—variable $ 0.40 $ 0.40 Administrative—fixed $ 500 $ 500 Required: 1. Prepare an income statement for each year...
Yale Company manufactures hair brushes that sell at wholesale for $3 per unit. The company had no beginning inventory in...
Yale Company manufactures hair brushes that sell at wholesale for $3 per unit. The company had no beginning inventory in the prior year. These data summarize the current and prior year operations: Prior Year Current Year Sales 2,300 units 3,700 units Production 3,000 units 3,000 units Production cost Factory—variable (per unit) $ 0.60 $ 0.60 —fixed $ 1,500 $ 1,500 Marketing—variable $ 0.40 $ 0.40 Administrative—fixed $ 500 $ 500 Required: 1. Prepare an income statement for each year based...
Yale Company manufactures hair brushes that sell at wholesale for $3 per unit. The company had...
Yale Company manufactures hair brushes that sell at wholesale for $3 per unit. The company had no beginning inventory in the prior year. These data summarize the current and prior year operations: Prior Year 3,300 units 5,800 units Current Year 6,700 units 5,800 units Sales Production Production cost Factory-variable (per unit) -fixed Marketing-variable Administrative-fixed $ 8.60 $ 2, see $ 0.40 $ See $ 8.60 $ 2,500 $ 0.40 $ See Required: 1. Prepare an income statement for each year...
E5-20 Comparing Full Absorption Costing and Variable Costing [LO 5S-1] The following information pertains to the...
E5-20 Comparing Full Absorption Costing and Variable Costing [LO 5S-1] The following information pertains to the first year of operation for Crystal Cold Coolers Inc.: 3,000 2,500 350 80 Number of units produced Number of units sold Unit sales price Direct materials per unit Direct labor per unit Variable manufacturing overhead per unit Fixed manufacturing overhead per unit ($225,000 - 3,000 units) Total variable selling expenses ($15 per unit sold) Total fixed general and administrative expenses 60 10 75 37,500...
Exercise 06-4 Variable costing income statement LO P2 Kenzi Kayaking, a manufacturer of kayaks, began operations...
Exercise 06-4 Variable costing income statement LO P2 Kenzi Kayaking, a manufacturer of kayaks, began operations this year. During this first year, the company produced 1,075 kayaks and sold 825 at a price of $1,075 each. At this first year-end, the company reported the following income statement information using absorption costing. Sales (825 x $1,075) Cost of goods sold (825 * $475) Gross margin Selling and administrative expenses Net income $ 886,875 391,875 495,000 210,000 $ 285,000 Additional Information a....
Exercise 19-4 Variable costing income statement LO P2 Kenzi Kayaking, a manufacturer of kayaks, began operations...
Exercise 19-4 Variable costing income statement LO P2 Kenzi Kayaking, a manufacturer of kayaks, began operations this year. During this first year, the company produced 1,075 kayaks and sold 825 at a price of $1,075 each. At this first year-end, the company reported the following income statement information using absorption costing. Sales (825 x $1,075) Cost of goods sold (825 $475) Gross margin Selling and administrative expenses Net income 886,875 391,875 495,000 240,000 255,000 $ Additional Information a. Product cost...
Just need requirement 2(variable costing income statement
Yale Company manufactures hair brushes that sell at wholesale for $3 per unit. The company had no beginning inventory in the prior year. These data summarize the current and prior year operations: Prior Year 1,800 units 2,000 units Current Year 2,200 units 2,000 units Sales Production Production cost Factory-variable (per unit) -fixed Marketing-variable Administrative-fixed $ 0.60 $1,000 $ 0.40 $ 500 $ 0.60 $1,000 $ 0.40 $ 500 Required: 1. Prepare an income...
Yale Company manufactures hair brushes that sell at wholesale for $3 per unit. The company had no beginning inventory in the prior year. These data summarize the current and prior year operations: Prior Year 3,200 units 4,800 units Current Year 6,400 units 4,800 units Sales Production Production cost Factory-variable (per unit) -fixed Marketing-variable Administrative-fixed $ 0.60 $2,400 $ 0.40 $ 500 $ 0.60 $2,400 $ 0.40 $ 500 Required: 1. Prepare an income statement for each year based on full...
Yale Company manufactures hair brushes that sell at wholesale for $3 per unit. The company had no beginning inventory in the prior year. These data summarize the current and prior year operations: Prior Year 3,300 units 5,800 units Current Year 6,700 units 5,800 units Sales Production Production cost Factory-variable (per unit) -fixed Marketing-variable Administrative-fixed $ 8.60 $ 2, see $ 0.40 $ See $ 8.60 $ 2,500 $ 0.40 $ See Required: 1. Prepare an income statement for each year...
E5-20 Comparing Full Absorption Costing and Variable Costing [LO 5S-1] The following information pertains to the first year of operation for Crystal Cold Coolers Inc.: 3,000 2,500 350 80 Number of units produced Number of units sold Unit sales price Direct materials per unit Direct labor per unit Variable manufacturing overhead per unit Fixed manufacturing overhead per unit ($225,000 - 3,000 units) Total variable selling expenses ($15 per unit sold) Total fixed general and administrative expenses 60 10 75 37,500...
Exercise 06-4 Variable costing income statement LO P2 Kenzi Kayaking, a manufacturer of kayaks, began operations this year. During this first year, the company produced 1,075 kayaks and sold 825 at a price of $1,075 each. At this first year-end, the company reported the following income statement information using absorption costing. Sales (825 x $1,075) Cost of goods sold (825 * $475) Gross margin Selling and administrative expenses Net income $ 886,875 391,875 495,000 210,000 $ 285,000 Additional Information a....
Exercise 19-4 Variable costing income statement LO P2 Kenzi Kayaking, a manufacturer of kayaks, began operations this year. During this first year, the company produced 1,075 kayaks and sold 825 at a price of $1,075 each. At this first year-end, the company reported the following income statement information using absorption costing. Sales (825 x $1,075) Cost of goods sold (825 $475) Gross margin Selling and administrative expenses Net income 886,875 391,875 495,000 240,000 255,000 $ Additional Information a. Product cost...
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