Sims company began operations on January 1. Its cost and sales information for this year f
Sims Company began operations on January 1. Its cost and sales information for this year follow.
| Direct materials | $ 30 | per unit |
|---|---|---|
| Direct labor | $ 50 | per unit |
| Variable overhead | $ 20 | per unit |
| Fixed overhead | $ 8,800,000 | per year |
| Variable selling and administrative expenses | $ 11 | per unit |
| Fixed selling and administrative expenses | $ 4,250,000 | per year |
| Units produced | 110,000 | units |
| Units sold | 80,000 | units |
| Sales price | $ 360 | per unit |
1. Prepare an income statement for the year using variable costing.
2. Prepare an income statement for the year using absorption costing.
Sims Company began operations on January 1. Its cost and sales information for this year follow.
| Direct materials | $ 30 | per unit |
|---|---|---|
| Direct labor | $ 50 | per unit |
| Variable overhead | $ 20 | per unit |
| Fixed overhead | $ 8,800,000 | per year |
| Variable selling and administrative expenses | $ 11 | per unit |
| Fixed selling and administrative expenses | $ 4,250,000 | per year |
| Units produced | 110,000 | units |
| Units sold | 80,000 | units |
| Sales price | $ 360 | per unit |
1. Prepare an income statement for the year using variable costing.
2. Prepare an income statement for the year using absorption costing.
Sims Company began operations on January 1. Its cost and sales information for this year follow.
| Direct materials | $ 30 | per unit |
|---|---|---|
| Direct labor | $ 50 | per unit |
| Variable overhead | $ 20 | per unit |
| Fixed overhead | $ 8,800,000 | per year |
| Variable selling and administrative expenses | $ 11 | per unit |
| Fixed selling and administrative expenses | $ 4,250,000 | per year |
| Units produced | 110,000 | units |
| Units sold | 80,000 | units |
| Sales price | $ 360 | per unit |
1. Prepare an income statement for the year using variable costing.
2. Prepare an income statement for the year using absorption costing.
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Sims company began operations on January 1. Its cost and sales information for this year f
Sims Company, a manufacturer of tablet computers, began operations on January 1, 2017. Its cost and...
Sims Company, a manufacturer of tablet computers, began operations on January 1, 2017. Its cost and sales information for this year follows. 40 per unit 60 per unit Manufacturing costs Direct materials Direct labor Overhead costs for the year Variable overhead Pixed overhead Selling and administrative costs for the year Variable Fixed Production and sales for the year Units produced Units sold Sales price per unit $2,100,000 $8,400,000 $ 725,000 $4,250,000 105,000 units 75,000 unita 350 per unit 1. Prepare...
Sims Company, a manufacturer of tablet computers, began operations on January 1, 2019. Its cost and...
Sims Company, a manufacturer of tablet computers, began operations on January 1, 2019. Its cost and sales information for this year follows $ $ 35 per unit 55 per unit Manufacturing costs Direct materials Direct labor Overhead costs Variable Fixed Selling and administrative costs for the year Variable Fixed Production and sales for the year Units produced Units sold Sales price per unit $ 30 per unit $7,350,000 (per year) $ 700,000 $4,250,000 5 105,000 units 75,000 units 360 per...
Sims Company, a manufacturer of tablet computers, began operations on January 1, 2017. Its cost and...
Sims Company, a manufacturer of tablet computers, began operations on January 1, 2017. Its cost and sales information for this year follows. $40 per unit $60 per unit $3,000,000 $7,000,000 Manufacturing costs Direct materials Direct labor. Overhead costs for the year Variable overhead Fixed overhead ... Selling and administrative costs for the year Variable. Fixed Production and sales for the year Units produced Units sold ... Sales price per unit $770,000 $4,250,000 100,000 units 70,000 units $350 per unit 1....
19.3 Sims Company, a manufacturer of tablet computers, began operations on January 1, 2019. Its cost...
19.3
Sims Company, a manufacturer of tablet computers, began operations on January 1, 2019. Its cost and sales information for this year follows. $40 per unit $60 per unit $30 per unit $7,000,000 (per year) Manufacturing costs Direct materials Direct labor Overhead costs Variable Fixed Selling and administrative costs for the year Variable Fixed Production and sales for the year Units produced Units sold Sales price per unit $770,000 $4,250,000 100,000 units 70,000 units $350 per unit 1. Prepare an...
Sims Company, a manufacturer of tablet computers, began operations on January 1, 2017 Its cost and...
Sims Company, a manufacturer of tablet computers, began operations on January 1, 2017 Its cost and sales information for this year follows 30 per unit se per unit $3,300,000 $7,700,000 Manufacturing costs Direct materials Direct labor Overhead costs for the year Variable overhead Fixed overhead Selling and administrative costs for the year Variable Fixed Production and sales for the year Units produced Units sold Sales price per unit $ 750.000 $4,750,000 110,000 units 80.000 units 360 per unit 1. Prepare...
Sims Company, a manufacturer of tablet computers, began operations on January 1, 2017. Its cost and sales inform...
Sims Company, a manufacturer of tablet computers, began operations on January 1, 2017. Its cost and sales information for this year follows. 30 per unit se per unit $2.000.000 $8,000,000 Manufacturing costs Direct materials Direct labor Overhead costs for the year Variable overhead Fixed overhead Selling and administrative costs for the year Variable Fixed Production and sales for the year Units produced Units sold Sales price per unit $750,000 $4,250,000 100,000 units 70,000 units 350 per unit 1. Prepare an...
ims Company, a manufacturer of tablet computers, began operations on January 1, 2019. Its cost and...
ims Company, a manufacturer of tablet computers, began operations on January 1, 2019. Its cost and sales information for this year ollows. 35 per unit 55 per unit 30 per unit $7,350,000 (per year) Manufacturing costs Direct materials Direct labor Overhead costs Variable Fixed Selling and administrative costs for the year Variable Fixed Production and sales for the year Units produced Units sold Sales price per unit $ 750,000 $4.500.ee 195,000 units 75,000 units 350 per unit 1. Prepare an...
sims company a manufacturer of table computers, began operatins on January 1, 2019. Its cost and...
sims company a manufacturer of table computers, began
operatins on January 1, 2019. Its cost and sales information for
this year follows.
Sims Company, a manufacturer of tablet computers, began operations on January 1, 2019. Its cost and sales information for this year follows. 35 per unit 55 per unit 30 per unit $7,350,000 (per year) Manufacturing costs Direct materials Direct labor Overhead costs Variable Fixed Selling and administrative costs for the year Variable Fixed Production and sales for the...
Sims Company, a manufacturer of tablet computers, began operations on January 1, 2017. Its cost and...
Sims Company, a manufacturer of tablet computers, began operations on January 1, 2017. Its cost and sales information for this year follows Manufacturing costs Direct materials Direct labor Overhead costs for the year 35 per unit 55 per unit 2,000,000 8,000,000 Variable overhead Fixed overhead Selling and administrative costs for the year Variable Fixed 775,000 $5,000,000 Production and sales for the year Units produced Units sold Sales price per unit 100,000 units 70,000 units 350 per unit 1. Prepare an...
Exercise 06-3 Income reporting under absorption costing and variable costing LO P2 Sims Company, a manufacturer...
Exercise 06-3 Income reporting under absorption costing and
variable costing LO P2
Sims Company, a manufacturer of tablet computers, began
operations on January 1, 2019. Its cost and sales information for
this year follows.
Manufacturing costs
Direct materials
$
30
per unit
Direct labor
$
50
per unit
Overhead costs
Variable
$
20
per unit
Fixed
$
8,400,000
(per year)
Selling and administrative costs for the year
Variable
$
725,000
Fixed
$
4,250,000
Production and sales for the year
Units...
Sims Company, a manufacturer of tablet computers, began operations on January 1, 2017. Its cost and sales information for this year follows. 40 per unit 60 per unit Manufacturing costs Direct materials Direct labor Overhead costs for the year Variable overhead Pixed overhead Selling and administrative costs for the year Variable Fixed Production and sales for the year Units produced Units sold Sales price per unit $2,100,000 $8,400,000 $ 725,000 $4,250,000 105,000 units 75,000 unita 350 per unit 1. Prepare...
Sims Company, a manufacturer of tablet computers, began operations on January 1, 2019. Its cost and sales information for this year follows $ $ 35 per unit 55 per unit Manufacturing costs Direct materials Direct labor Overhead costs Variable Fixed Selling and administrative costs for the year Variable Fixed Production and sales for the year Units produced Units sold Sales price per unit $ 30 per unit $7,350,000 (per year) $ 700,000 $4,250,000 5 105,000 units 75,000 units 360 per...
Sims Company, a manufacturer of tablet computers, began operations on January 1, 2017. Its cost and sales information for this year follows. $40 per unit $60 per unit $3,000,000 $7,000,000 Manufacturing costs Direct materials Direct labor. Overhead costs for the year Variable overhead Fixed overhead ... Selling and administrative costs for the year Variable. Fixed Production and sales for the year Units produced Units sold ... Sales price per unit $770,000 $4,250,000 100,000 units 70,000 units $350 per unit 1....
19.3
Sims Company, a manufacturer of tablet computers, began operations on January 1, 2019. Its cost and sales information for this year follows. $40 per unit $60 per unit $30 per unit $7,000,000 (per year) Manufacturing costs Direct materials Direct labor Overhead costs Variable Fixed Selling and administrative costs for the year Variable Fixed Production and sales for the year Units produced Units sold Sales price per unit $770,000 $4,250,000 100,000 units 70,000 units $350 per unit 1. Prepare an...
Sims Company, a manufacturer of tablet computers, began operations on January 1, 2017 Its cost and sales information for this year follows 30 per unit se per unit $3,300,000 $7,700,000 Manufacturing costs Direct materials Direct labor Overhead costs for the year Variable overhead Fixed overhead Selling and administrative costs for the year Variable Fixed Production and sales for the year Units produced Units sold Sales price per unit $ 750.000 $4,750,000 110,000 units 80.000 units 360 per unit 1. Prepare...
Sims Company, a manufacturer of tablet computers, began operations on January 1, 2017. Its cost and sales information for this year follows. 30 per unit se per unit $2.000.000 $8,000,000 Manufacturing costs Direct materials Direct labor Overhead costs for the year Variable overhead Fixed overhead Selling and administrative costs for the year Variable Fixed Production and sales for the year Units produced Units sold Sales price per unit $750,000 $4,250,000 100,000 units 70,000 units 350 per unit 1. Prepare an...
ims Company, a manufacturer of tablet computers, began operations on January 1, 2019. Its cost and sales information for this year ollows. 35 per unit 55 per unit 30 per unit $7,350,000 (per year) Manufacturing costs Direct materials Direct labor Overhead costs Variable Fixed Selling and administrative costs for the year Variable Fixed Production and sales for the year Units produced Units sold Sales price per unit $ 750,000 $4.500.ee 195,000 units 75,000 units 350 per unit 1. Prepare an...
sims company a manufacturer of table computers, began
operatins on January 1, 2019. Its cost and sales information for
this year follows.
Sims Company, a manufacturer of tablet computers, began operations on January 1, 2019. Its cost and sales information for this year follows. 35 per unit 55 per unit 30 per unit $7,350,000 (per year) Manufacturing costs Direct materials Direct labor Overhead costs Variable Fixed Selling and administrative costs for the year Variable Fixed Production and sales for the...
Sims Company, a manufacturer of tablet computers, began operations on January 1, 2017. Its cost and sales information for this year follows Manufacturing costs Direct materials Direct labor Overhead costs for the year 35 per unit 55 per unit 2,000,000 8,000,000 Variable overhead Fixed overhead Selling and administrative costs for the year Variable Fixed 775,000 $5,000,000 Production and sales for the year Units produced Units sold Sales price per unit 100,000 units 70,000 units 350 per unit 1. Prepare an...
Exercise 06-3 Income reporting under absorption costing and
variable costing LO P2
Sims Company, a manufacturer of tablet computers, began
operations on January 1, 2019. Its cost and sales information for
this year follows.
Manufacturing costs
Direct materials
$
30
per unit
Direct labor
$
50
per unit
Overhead costs
Variable
$
20
per unit
Fixed
$
8,400,000
(per year)
Selling and administrative costs for the year
Variable
$
725,000
Fixed
$
4,250,000
Production and sales for the year
Units...
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