Question

1 and 3 please

Quarryman Corporation Case Part I: Quarryman Corporation manufactures and sells 50-inch television sets and uses standard costing. Actual date relating to January, February, and March 2019 are as follows: January February March Unit data Beginning Inventory 0 100 100 Production 1,425 1,425 1,560 1,550 1,500 Sales 1,400 Variable Costs: Manufacturing Cost per unit produced Marketing cost per unit $1,000 $1,000 $1,000 $700 $700 $700 sold Fixed Costs: Manufacturing Costs Marketing Costs $525,000 $525,000 $140,000 $525,000 $140,000 $140,000 The selling price per unit is $3,600. The budgeted level of production used to calculate the budgeted fixed manufacturing costs was 1,560 units in March. There are no price, efficiency or spending variances to worry about 1,500 units in January, 1,425 units in February, and To keep it simple you can assume that the cost of product sold per unit in February and March is the same as cost of units produced during that month. In other words, you do not need to assume that 100 of the units sold in February were sold at January's cost per unit, and the same assuming the firm is using the LIFO inventory assumption. goes for March. This is the same as Part II: The variable manufacturing costs per unit of Quarryman Corporation are as follows: January February March I Direct materials cost $535 $535 $535 per unit Direct manufacturing labor cost per unit $190 $190 $190 MOH cost per unit $275 $275 $275 S1,000 $1,000 $1,000 1. Prepare income statement for Quarryman Corporation in January, February and March 2019 under throughput costing. 3. Provide at least one reason why companies might prefer throughput costing over absorption costing or variable costing.

Answer 1

In Throughput costing,the inventory cost includes cost of material only .
/Date : statement a uarniynnan p Jncome by using thughpict costing tpuenton 9n thraughput couting the includes anly madeual cau and semaináng all direct aost io Coat manulacturing period Lime Cost Lalrour tast the axe 1e. irrespectve a unito produced periad Clip Anahi boos o Quatman ep tatement to 2019 March S32.3rO0 Jan Feb Sales $36.00/$50u0,000 4S30000 ss800cp Iu0o unitx125 unik(1Ssouni $3600/unit X $3600lun X $3600 unit) 0 Cost al Material Cost opening u O ) Pruechasao $53 500 $53500 $802500 762375 $834600 453,500)458 Soo58850)

Date: Total Matexial Cost $149000 $76231s $829250 Lle)labour Cost C 190 lunit) (1500unia(i42Suni CIsto uni てHmFs0 su12500 $391815$429000 SLて$ HOW (O id)eixed Manulackung $525000 4525000 5250o0 a Maxketing fixed Variable (700lunit) $9gopoo $91,500s1092000 o0oh1s 0000hl $0000nTS (1400unit CIu2SuniCIS6ouni Total Cost Protit for the puriod $194850d $2042500$226235c -2) An thraughput costing, proit wauld na intlated since tt wouldit include +Lalour texp) mo direct cast CMaterial anly cast a material but