Data Table Unit data: Beginning inventory Production January February March 0 100 100 1,000 950 1,020...

Transcribed Image Text:

Data Table Unit data: Beginning inventory Production January February March 0 100 100 1,000 950 1,020 900 950 1,030 Sales Variable costs: Manufacturing cost per unit produced $ 900 $ 900 $ 900 Operating (marketing) cost per unit sold $ 625 $ 625 $ 625 Fixed costs: Manufacturing costs 420,000 $420,000 $ 420,000 Operating (marketing) costs $ 160,000 $ 160,000 $ 160,000 Print Done Requirements 1. Prepare income statements for Salem Screen in January, February, and March 2020 under (a) variable costing and (b) absorption costing. 2. Explain the difference in operating income for January, February, and March under variable costing and absorption costing. Print Done Salem Screen Corporation manufactures and sells 50-inch television sets and uses standard costing. Actual data relating to January, February, and March 2020 are as follows: (Click to view the data.) The selling price per unit is $2,300. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 1,000 units. There are no price, efficiency, or spending variances. Any production-volume variance is written off to cost of goods sold in the month in which it occurs. Read the requirements. Requirement 1. Prepare income statements for Salem Screen in January, February, and March 2020 under (a) variable costing and (b) absorption costing. (a). Prepare income statements for Salem Screen in January, February, and March of 2020 under variable costing. Complete the top half of the income statement for each month first, then complete the bottom portion. (Complete all input fields. Enter a "0" for any zero balance accounts.) January 2020 February 2020 March 2020 Data Table Unit data: Beginning inventory Production January February March 0 100 100 1,000 950 1,020 900 950 1,030 Sales Variable costs: Manufacturing cost per unit produced $ 900 $ 900 $ 900 Operating (marketing) cost per unit sold $ 625 $ 625 $ 625 Fixed costs: Manufacturing costs 420,000 $420,000 $ 420,000 Operating (marketing) costs $ 160,000 $ 160,000 $ 160,000 Print Done Requirements 1. Prepare income statements for Salem Screen in January, February, and March 2020 under (a) variable costing and (b) absorption costing. 2. Explain the difference in operating income for January, February, and March under variable costing and absorption costing. Print Done Salem Screen Corporation manufactures and sells 50-inch television sets and uses standard costing. Actual data relating to January, February, and March 2020 are as follows: (Click to view the data.) The selling price per unit is $2,300. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 1,000 units. There are no price, efficiency, or spending variances. Any production-volume variance is written off to cost of goods sold in the month in which it occurs. Read the requirements. Requirement 1. Prepare income statements for Salem Screen in January, February, and March 2020 under (a) variable costing and (b) absorption costing. (a). Prepare income statements for Salem Screen in January, February, and March of 2020 under variable costing. Complete the top half of the income statement for each month first, then complete the bottom portion. (Complete all input fields. Enter a "0" for any zero balance accounts.) January 2020 February 2020 March 2020

Answer rating: 100% (QA)

Answer Based on the information provided I will answer the questions as follows 1 Income Statements for Salem Screen in January February and March 202... View the full answer