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6. (20 Points) Lukin Corporation reports the following first year production cost information: Units produced Units sold Sale
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Answer #1
Unit Produced 62000
Unit Sold 59000
Sale price 350
Direct labour 41
Direct material 15
Variable overhead 9300000
Fixed Overhead 4340000
Operating expense 1000000
Variable cost
Direct labour 25,42,000 41*62000
Direct material 9,30,000 15*62000
Variable overhead 93,00,000
Operating expense 10,00,000
Total Variable cost 13772000
Unit Produced 62000
Variable cost per unit 222.13
Absorption costing
Direct labour 25,42,000 41*62000
Direct material 9,30,000 15*62000
Variable overhead 93,00,000
Operating expense 10,00,000
Fixed Overhead 4340000
Total absorption cost 18112000
Unit Produced 62000
Absorption cost per unit 292.13
Net Income under a variable cost
Sale price 2,06,50,000 59000*350
Total Variable cost 1,37,72,000 59000*350
68,78,000
Net Income under Absorption cost
Sale price 2,06,50,000
Total Absorption costing 1,81,12,000
25,38,000
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