Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties,...

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Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties, and other functions. During its first year of business, the company incurred the following costs: Variable Cost per Hula Skirt Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses $ 10.60 4.40 1.55 0.50 Fixed Costs per Month Fixed manufacturing overhead Fixed selling and administrative expenses Dance Creations charges $35 for each skirt that it sells. During the first month of operation, it made 1,800 skirts and sold 1,660. $ 20,700 5,950 Required: 1. Assuming Dance Creations uses variable costing, calculate the variable manufacturing cost per unit for last month. 2. Complete a contribution margin income statement for the last month. 3. Assuming Dance Creations uses full absorption costing, calculate the full manufacturing cost per unit for the last month. 4. Complete a full absorption costing income statement. 6. Suppose next month Dance Creations expects to produce 1,800 hula skirts and sell 1,900. Without recreating the new income statements, calculate the difference in profit between variable costing and full absorption costing. Which would be higher? Complete this question by entering your answers in the tabs below. Required 1 Required 1 Required 2 Required 3 Required 4- Required 6. Assuming Dance Creations uses variable costing, calculate the variable manufacturing cost per unit for last month. Note: Round your answer to 2 decimal places. Total Variable Manufacturing Cost per Unit Required 2 > Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties, and other functions. During its first year of business, the company incurred the following costs: Variable Cost per Hula Skirt Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses Fixed Costs per Month Fixed manufacturing overhead Fixed selling and administrative expenses Dance Creations charges $35 for each skirt that it sells. During the first month of operation, it made 1,800 skirts and sold 1,660. Required: 1. Assuming Dance Creations uses variable costing, calculate the variable manufacturing cost per unit for last month. 2. Complete a contribution margin income statement for the last month. 3. Assuming Dance Creations uses full absorption costing, calculate the full manufacturing cost per unit for the last month.. 4. Complete a full absorption costing income statement. 6. Suppose next month Dance Creations expects to produce 1,800 hula skirts and sell 1,900. Without recreating the new income statements, calculate the difference in profit between variable costing and full absorption costing. Which would be higher? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 31 Required 4 Required 6 Complete a contribution margin income statement for the last month.. $10.60 4.40 1.55 0.50 Dance Creations Contribution Margin income Statement. For the Last Month Contribution margin $ 20,700 5,950 Net Operating Income < Required 1 Required 3 > Dance Creations manufactures authentic Hawallan hula skirts that are purchased for traditional Hawaiian celebrations, costume parties, and other functions. During its first year of business, the company incurred the following costs: Variable Cost per Hula Skirt Direct materials. Direct labor Variable manufacturing overhead Variable selling and administrative expenses Fixed Costs per Month Fixed manufacturing overhead Fixed selling and administrative expenses Dance Creations charges $35 for each skirt that it sells. During the first month of operation, it made 1,800 skirts and sold 1,660. $ 10.60 4.40 1.55 0.50 $ 20,700 5,950 Required: 1. Assuming Dance Creations uses variable costing, calculate the variable manufacturing cost per unit for last month. 2. Complete a contribution margin income statement for the last month. 3. Assuming Dance Creations uses full absorption costing, calculate the full manufacturing cost per unit for the last month. 4. Complete a full absorption costing income statement. 6. Suppose next month Dance Creations expects to produce 1,800 hula skirts and sell 1,900. Without recreating the new income statements, calculate the difference in profit between variable costing and full absorption costing. Which would be higher? Complete this question by entering your answers in the tabs below. < Required 2 Required 1 Required 2 Required 3 Required 41 Required 6 Assuming Dance Creations uses full absorption costing, calculate the full manufacturing cost per unit for the last month. Note: Round your intermediate calculations and final answer to 2 decimal places. Total Absorption Cost per Unit Required 4 > Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties, and other functions. During its first year of business, the company incurred the following costs: Variable Cost per Hula Skirt Direct materials Direct labori Variable manufacturing overhead. Variable selling and administrative expenses Fixed Costs per Month Fixed manufacturing overhead Fixed selling and administrative expenses Dance Creations charges $35 for each skirt that it sells. During the first month of operation, it made 1,800 skirts and sold 1,660. Required: 1. Assuming Dance Creations uses variable costing, calculate the variable manufacturing cost per unit for last month. 2. Complete a contribution margin income statement for the last month. 3. Assuming Dance Creations uses full absorption costing, calculate the full manufacturing cost per unit for the last month. 4. Complete a full absorption costing income statement. 6. Suppose next month Dance Creations expects to produce 1,800 hula skirts and sell 1,900. Without recreating the new income statements, calculate the difference in profit between variable costing and full absorption costing. Which would be higher? Required 1 Required 2 Required 3 Complete this question by entering your answers in the tabs below. Gross Margin Required 4 $10.60 4.40 1.55 0.50 Dance Creations Full Absorption Income Statement For Last Month Net Operating Income Complete a full absorption costing Income statement. Note: Round your intermediate calculations to 2 decimal places. Round your final answer to nearest whole dollar. $ 20,700 5,950 Required 6 < Required 3 Required 6 > Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawallan celebrations, costume parties, and other functions. During its first year of business, the company incurred the following costs: Variable Cost per Hula Skirt Direct materials. Direct labor. Variable manufacturing overhead Variable selling and administrative expenses Fixed Costs per Month : Fixed manufacturing overhead Fixed selling and administrative expenses Dance Creations charges $35 for each skirt that it sells. During the first month of operation, it made 1,800 skirts and sold 1,660. Required: 1. Assuming Dance Creations uses variable costing, calculate the variable manufacturing cost per unit for last month. 2. Complete a contribution margin income statement for the last month. $ 10.60 4.40 1.55 0.50 3. Assuming Dance Creations uses full absorption costing, calculate the full manufacturing cost per unit for the last month. 4. Complete a full absorption costing income statement. 6. Suppose next month Dance Creations expects to produce 1,800 hula skirts and sell 1,900. Without recreating the new income statements, calculate the difference in profit between variable costing and full absorption costing. Which would be higher? Complete this question by entering your answers in the tabs below. Required 1 $ 20,700 5,950 Required 2 Required 3 Required 4 Required 6 Suppose next month Dance Creations expects to produce 1,800 hula skirts and sell 1,900. Without recreating the new income. statements, calculate the difference in profit between variable costing and full absorption costing. Which would be higher? Note: Round your final answer to nearest whole dollar. Difference in profit Which would be higher? < Required 4 Required 6 Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties, and other functions. During its first year of business, the company incurred the following costs: Variable Cost per Hula Skirt Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses $ 10.60 4.40 1.55 0.50 Fixed Costs per Month Fixed manufacturing overhead Fixed selling and administrative expenses Dance Creations charges $35 for each skirt that it sells. During the first month of operation, it made 1,800 skirts and sold 1,660. $ 20,700 5,950 Required: 1. Assuming Dance Creations uses variable costing, calculate the variable manufacturing cost per unit for last month. 2. Complete a contribution margin income statement for the last month. 3. Assuming Dance Creations uses full absorption costing, calculate the full manufacturing cost per unit for the last month. 4. Complete a full absorption costing income statement. 6. Suppose next month Dance Creations expects to produce 1,800 hula skirts and sell 1,900. Without recreating the new income statements, calculate the difference in profit between variable costing and full absorption costing. Which would be higher? Complete this question by entering your answers in the tabs below. Required 1 Required 1 Required 2 Required 3 Required 4- Required 6. Assuming Dance Creations uses variable costing, calculate the variable manufacturing cost per unit for last month. Note: Round your answer to 2 decimal places. Total Variable Manufacturing Cost per Unit Required 2 > Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties, and other functions. During its first year of business, the company incurred the following costs: Variable Cost per Hula Skirt Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses Fixed Costs per Month Fixed manufacturing overhead Fixed selling and administrative expenses Dance Creations charges $35 for each skirt that it sells. During the first month of operation, it made 1,800 skirts and sold 1,660. Required: 1. Assuming Dance Creations uses variable costing, calculate the variable manufacturing cost per unit for last month. 2. Complete a contribution margin income statement for the last month. 3. Assuming Dance Creations uses full absorption costing, calculate the full manufacturing cost per unit for the last month.. 4. Complete a full absorption costing income statement. 6. Suppose next month Dance Creations expects to produce 1,800 hula skirts and sell 1,900. Without recreating the new income statements, calculate the difference in profit between variable costing and full absorption costing. Which would be higher? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 31 Required 4 Required 6 Complete a contribution margin income statement for the last month.. $10.60 4.40 1.55 0.50 Dance Creations Contribution Margin income Statement. For the Last Month Contribution margin $ 20,700 5,950 Net Operating Income < Required 1 Required 3 > Dance Creations manufactures authentic Hawallan hula skirts that are purchased for traditional Hawaiian celebrations, costume parties, and other functions. During its first year of business, the company incurred the following costs: Variable Cost per Hula Skirt Direct materials. Direct labor Variable manufacturing overhead Variable selling and administrative expenses Fixed Costs per Month Fixed manufacturing overhead Fixed selling and administrative expenses Dance Creations charges $35 for each skirt that it sells. During the first month of operation, it made 1,800 skirts and sold 1,660. $ 10.60 4.40 1.55 0.50 $ 20,700 5,950 Required: 1. Assuming Dance Creations uses variable costing, calculate the variable manufacturing cost per unit for last month. 2. Complete a contribution margin income statement for the last month. 3. Assuming Dance Creations uses full absorption costing, calculate the full manufacturing cost per unit for the last month. 4. Complete a full absorption costing income statement. 6. Suppose next month Dance Creations expects to produce 1,800 hula skirts and sell 1,900. Without recreating the new income statements, calculate the difference in profit between variable costing and full absorption costing. Which would be higher? Complete this question by entering your answers in the tabs below. < Required 2 Required 1 Required 2 Required 3 Required 41 Required 6 Assuming Dance Creations uses full absorption costing, calculate the full manufacturing cost per unit for the last month. Note: Round your intermediate calculations and final answer to 2 decimal places. Total Absorption Cost per Unit Required 4 > Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawaiian celebrations, costume parties, and other functions. During its first year of business, the company incurred the following costs: Variable Cost per Hula Skirt Direct materials Direct labori Variable manufacturing overhead. Variable selling and administrative expenses Fixed Costs per Month Fixed manufacturing overhead Fixed selling and administrative expenses Dance Creations charges $35 for each skirt that it sells. During the first month of operation, it made 1,800 skirts and sold 1,660. Required: 1. Assuming Dance Creations uses variable costing, calculate the variable manufacturing cost per unit for last month. 2. Complete a contribution margin income statement for the last month. 3. Assuming Dance Creations uses full absorption costing, calculate the full manufacturing cost per unit for the last month. 4. Complete a full absorption costing income statement. 6. Suppose next month Dance Creations expects to produce 1,800 hula skirts and sell 1,900. Without recreating the new income statements, calculate the difference in profit between variable costing and full absorption costing. Which would be higher? Required 1 Required 2 Required 3 Complete this question by entering your answers in the tabs below. Gross Margin Required 4 $10.60 4.40 1.55 0.50 Dance Creations Full Absorption Income Statement For Last Month Net Operating Income Complete a full absorption costing Income statement. Note: Round your intermediate calculations to 2 decimal places. Round your final answer to nearest whole dollar. $ 20,700 5,950 Required 6 < Required 3 Required 6 > Dance Creations manufactures authentic Hawaiian hula skirts that are purchased for traditional Hawallan celebrations, costume parties, and other functions. During its first year of business, the company incurred the following costs: Variable Cost per Hula Skirt Direct materials. Direct labor. Variable manufacturing overhead Variable selling and administrative expenses Fixed Costs per Month : Fixed manufacturing overhead Fixed selling and administrative expenses Dance Creations charges $35 for each skirt that it sells. During the first month of operation, it made 1,800 skirts and sold 1,660. Required: 1. Assuming Dance Creations uses variable costing, calculate the variable manufacturing cost per unit for last month. 2. Complete a contribution margin income statement for the last month. $ 10.60 4.40 1.55 0.50 3. Assuming Dance Creations uses full absorption costing, calculate the full manufacturing cost per unit for the last month. 4. Complete a full absorption costing income statement. 6. Suppose next month Dance Creations expects to produce 1,800 hula skirts and sell 1,900. Without recreating the new income statements, calculate the difference in profit between variable costing and full absorption costing. Which would be higher? Complete this question by entering your answers in the tabs below. Required 1 $ 20,700 5,950 Required 2 Required 3 Required 4 Required 6 Suppose next month Dance Creations expects to produce 1,800 hula skirts and sell 1,900. Without recreating the new income. statements, calculate the difference in profit between variable costing and full absorption costing. Which would be higher? Note: Round your final answer to nearest whole dollar. Difference in profit Which would be higher? < Required 4 Required 6

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Lets go step by step to address each of the required parts of the question Required 1 Variable cost per hula skirt is the total of all variable costs associated with manufacturing a single skirt Using ... View the full answer