Pembina Pools | ||
Full Costing Income Statements | ||
2017 | 2018 | |
No of Unit sold | 10500 | 10500 |
Sales Revenue @$3780 | $39,690,000 | $39,690,000 |
Cost of Goods Sold | ||
Beginning Invenry | $0 | $6,482,400 |
Cost of Goods Manufactured (12690 x $2960) (8310*3065.94) |
$37,562,400 | $25,477,961 |
Cost of Goods Available for Sale | $37,562,400 | $31,960,361 |
Less: Ending Invenry (12690-10500)X2960 | $6,482,400 | $0 |
Cost of Goods Sold | $31,080,000 | $31,960,361 |
Gross Margin | $8,610,000 | $7,729,639 |
Selling and Administrative Expenses | ||
Fixed | $1,492,000 | $1,492,000 |
Total Selling and Adminstrative Expenses | $1,492,000 | $1,492,000 |
Net Operating Income ( Loss) | $7,118,000 | $6,237,639 |
Variable Costing Income Statements : | ||
2017 | 2018 | |
No of Unit sold | 10500 | 10500 |
Sales Revenue @$3780 | $39,690,000 | $39,690,000 |
Less : Variable | ||
Cost of Goods Sold @$2759 | $28,969,500 | $28,969,500 |
Total Variable Costs | $28,969,500 | $28,969,500 |
Contribution Margin | $10,720,500 | $10,720,500 |
Fixed Costs | ||
Manufacturing | $2,550,690 | $2,550,690 |
Selling and Administrative | $1,492,000 | $1,492,000 |
Total Fixed Costs | $4,042,690 | $4,042,690 |
Net Operating Income ( Loss) | $6,677,810 | $6,677,810 |
The following information is available for Pembina Pools, a manufacturer of above-ground swimming pool kits: Total...
Accustart Stage Supplies is a manufacturer of a specialized type of light used in theaters. Information on the first 3 years of business is as follows: 2017 2018 2019 Total Units sold 4,650 4,650 4,650 13,950 Units produced 4,650 5,580 3,720 13,950 Fixed production costs $62,496 $62,496 $62,496 Variable production costs per unit $78 $78 $78 Selling price per unit $229 $229 $229 Fixed selling and administrative expense $4,700 $4,700 $4,700 (a) Your answer is partially correct. Try again. Calculate...
Question 4 of 4 < > The following information is available for Foress Pools, a manufacturer of above-ground swimming pool kits: Total 20,200 20,200 Units produced Units sold Selling price per unit Direct material per unit Direct labor per unit Variable manufacturing overhead per unit Fixed manufacturing overhead per year Ford selling and administrative expense per year 2020 12.200 10,100 $4,080 $810 $1,500 $318 $2,440,000 $1,371,200 2021 8.000 10,100 $4,080 $810 $1,500 $318 $2,440,000 $1,371,200 In its first year of...
Dynatech Electronics produces a wireless home lighting device that allows consumers to turn on home lights from their cars and light a safe path into and through their homes. Information on the first three years of business is as follows: Total 42,000 42,000 Units sold Units produced Fixed production costs Variable production costs per unit Selling price per unit Fixed selling and administrative expense 2017 14,000 14,000 $612,500 $149 $240 $222,800 2018 14,000 17,500 $612,500 $149 $240 $222,800 2019 14,000...
Accustart Stage Supplies is a manufacturer of a specialized type of light used in theaters. Information on the first 3 years of business is as follows: 2017 2018 2019 Total Units sold 4,650 4,650 4,650 13,950 Units produced 4,650 5,580 3,720 13,950 Fixed production costs $62,496 $62,496 $62,496 Variable production costs per unit $78 $78 $78 Selling price per unit $229 $229 $229 Fixed selling and administrative expense $4,700 $4,700 $4,700 (a) Calculate profit and the value of ending inventory...
Problem 5-1 Richetti Electronics produces a wireless home lighting device that allows consumers to turn on home lights from their cars and light a path into and through their homes. Information on the first three years of business is as follows: Total 72,000 72,000 Units sold Units produced Fixed production costs Variable production costs per unit Selling price per unit Fixed selling and administrative expense 2017 24,000 24,000 $1,020,000 $157 $237 $226,800 2018 24,000 30,000 $1,020,000 $157 $237 $226,800 2019...
Runner Stage Supplies is a manufacturer of a specialized type of light used in theaters. Information on the first 3 years of business is as follows: 2017 2018 2019 Total Units sold 4,850 4,850 4,850 14,550 Units produced 4,850 5,820 3,880 14,550 Fixed production costs $65,766 $65,766 $65,766 Variable production costs per unit $69 $69 $69 Selling price per unit $211 $211 $211 Fixed selling and administrative expense $4,630 $4,630 $4,630 (a) Calculate profit and the value of ending inventory...
Problem 5-14 The following information relates to Pukalani Industries for fiscal 2017, the company’s first year of operation: Units produced 494,900 Units sold 448,800 Units in ending inventory 46,100 Fixed manufacturing overhead $1,410,465 Calculate the amount of fixed manufacturing overhead that would be expensed in 2017 using full costing. (Round fixed manufacturing overhead per unit to 2 decimal places, e.g. 15.25 and final answer to 0 decimal places, e.g. 125.) Fixed manufacturing overhead expensed $ LINK TO TEXT LINK TO...
Do It! Review 18-2 Westerville Company accumulates the following data concerning a mixed cost, using units produced as the activity level March April May June July Units Produced 9,950 9,050 10,400 8,900 9,550 Total Cost $13,240 12,690 13,940 12,290 13,140 Compute the variable cost per unit using the high-low method. (Round variable cost per unit to 2 decimal places e.g. 12.25.) Variable cost per unit LINK TO TEXT Compute the fixed cost elements using the high-low method. (Round answer to...
Problem 5-13 The following information relates to Munchies Industries for fiscal 2017, the company's first year of operation: Units produced Units sold Units in ending inventory Fixed manufacturing overhead 157,000 114,900 42,100 $927,870 Calculate the amount of fixed manufacturing overhead that would be expensed in 2017 using full costing. (Round fixed manufacturing overhead per unit to 2 decimal places, e.g. 15.25 and final answer to 0 decimal places, e.g. 125.) Fixed manufacturing overhead expensed s LINK TO TEXT LINK TO...
Problem 19-1 The following information is available for Ayayai Corporation for 2017. 1. Depreciation reported on the tax return exceeded depreciation reported on the income statement by $122,000 This difference will reverse in equal amounts of $30,500 over the years 2018-2021. 2. Interest received on municipal bonds was $11,000. 3. Rent collected in advance on January 1, 2017, totaled $63,900 for a 3-year period. Of this amount, $42,600 was reported as unearned at December 31, 2017, for book purposes 4....