Question

please help me complete the rest of these problems. what is there is right so far.

Ch 19 Homework Saved 4 Required information Exercise 19-9 Income statement under absorption costing and varlable costing LO P1, P2 The following information applies to the questions displayed below] Part 4 of 4 Cool Sky reports the following costing data on ts product for its first year of operations. Durng this first year, the company produced 44,000 units and sold 36.000 units at a price of $140 per unit. 166 points Manufacturing costs Direct materlals per unit Direct labor per unit Variable overhead per unit Fixed overhead for the year Selling and adninistrative costs Variable selling and adninistrative cost per unit Fixed selling and adeinistrative cost per year 60 22 8 $ 528,000 eBook 11 $ 105,000 Hint Exercise 19-9 Part 2b Prit 2b. Assume the company uses vartable costing. Prepare Its income statement for the year under vartable costing Rele ences COOL SKY Variable Costing Income Statement $ 6040,000 Less Variable costs Variable selling and administrative expenses Variable product costs Net income (oss

Answer 1

Page Date: _//_Page No.: Cool Sky costing Income Variable Statement $5040000 sales (36000 x $140) len: Vorabe cost - variable selling and adminstrative expenses (360008 11) - variable Product cost (36000 xgo) - Direct Material 60 Dirut Labor 22 variable overhead 8 ($ 396000) $ 324000o). Net Income $ 1404000

- Page ② Date: _//_ Page No.:_ 1b COOL SKY Absorption osting income statement sales $504oooo Direet Direct variable Material 36000 x 60 - $2160000 lobor 36000 822-8792000 overhead 36000 x8 & $288000 fixed overhead cost $528000 x 36000 = $432000 440oo - cost of goods sold Со е чохаn ( $3672000) $ 1368000 Jonable selling and administrative expenns (36000x11) $396000 fixed selling and administrative expenses $105000 Total selling & adminishative expansy ($501000) $ 867000 Net Income