Homework Answers
Year 2
| Particulars | Amount ($) |
| Direct Materials | 75 |
| Direct Labour | 55 |
| Variable Manufacturing overhead | 10 |
| Fixed Overhead (450000/15000) | 30 |
| Total Cost Per Unit | 170 |
| Units | 3000 |
| Closing Stock Value | 510000 |
Year 3
| Particulars | Amount ($) |
| Direct Materials | 75 |
| Direct Labour | 55 |
| Variable Manufacturing overhead | 10 |
| Fixed Overhead (450000/12000) | 37.5 |
| Total Cost Per Unit | 177.5 |
| No. of units Profuced | 12000 |
| Total Cost of Units prodced | 2130000 |
| Add : Opening Stock Value | 510000 |
| Less: Closing Stock Value | 0 |
| Cost of Goods Sold | 2640000 |
Option A. $2640000
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Absorption-Costing Income Statement
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Units in beginning inventory
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9,300
Variable costs per unit:
Direct materials
$9
Direct labor
$6
Variable overhead
$4
Fixed costs:
Fixed overhead per unit produced
$5
Fixed selling and administrative
$138,000
Required:
1. Calculate the cost of goods sold under
absorption costing.
$
2. Prepare an income statement using absorption
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Absorption-Costing Income Statement
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data:
Units in beginning inventory
—
Units produced
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Units sold ($47 per unit)
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Variable costs per unit:
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Direct labor
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Variable overhead
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Fixed costs:
Fixed overhead per unit produced
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Fixed selling and administrative
$138,000
Required:
1. Calculate the cost of goods sold under
absorption costing.
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2. Prepare an income statement using absorption
costing. Enter amounts as positive...
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