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(Solved) Cost of goods manufactured, using variable costing and absorption costing On December 31, the end...


Cost of goods manufactured, using variable costing and absorption costing On December 31, the end of the first year of operations, Frankenreiter Inc. manufactured 25,600 units and sold 24,000 units. The following income statement was prepared, based on the variable costing  concept:   Frankenreiter Inc. Variable Costing Income Statement For the year Ended December 31, 2016   Sales     ..............................................................   $9,600,000 Variable cost of goods sold:     Variable cost of goods manufactured  ........................... $5,376,000   Less inventory, June 30 .........................................      336,000   Variable cost of goods sold  ........................................     5,040,000 Manufacturing    margin.............................................   $4,560,000 Variable selling and administrative expenses .......................     1,150,000 Contribution  margin...............................................   $3,410,000 Fixed costs:     Fixed manufacturing costs   ..................................... $1,664,000   Fixed selling and administrative expenses.......................      890,000   2,554,000 Income from operations ...........................................   $   856,000 Determine the unit cost of goods manufactured, based on (a) the variable costing concept and (b) the absorption costing   concept.  

 


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Oct 15, 2019

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