: Amazing Screen Corporation manufactures and sells 50-inch television sets and uses standard costing. Actual data relating

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Amazing Screen Corporation manufactures and sells 50-inch television sets and uses standard costing. Actual data relating to January, February, and March 2017 are as follows: The selling price per unit is $2,900. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 1,400 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. E (Click to view the data.) Read the requirements Data Table Requirements 1. Prepare income statements for Amazing Screen in January, February, and March 2017 under (a) variable costing and (b) absorption costing. January February March Unit data: 2. Explain the difference in operating income for January, February, and March under variable costing and absorption costing. Beginning inventory 150 150 Production 1,400 1,375 1,475 Sales 1,250 1,375 1,505 Print Done Variable costs: Manufacturing cost per unit produced 900 $ 900 $ 900 Operating (marketing) cost per unit sold 500 $ 500 $ 500 Fixed costs: Manufacturing costs 490,000 S 490,000 $ 490,000 Operating (marketing) costs 140,000 $ 140,000 $ 140,000 Print Done Amazing Screen Corporation manufactures and sells 50-inch television sets and uses standard costing. Actual data relating to January, February, and March 2017 are as follows: The selling price per unit is $2,900. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 1,400 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. E (Click to view the data.) Read the requirements Data Table Requirements 1. Prepare income statements for Amazing Screen in January, February, and March 2017 under (a) variable costing and (b) absorption costing. January February March Unit data: 2. Explain the difference in operating income for January, February, and March under variable costing and absorption costing. Beginning inventory 150 150 Production 1,400 1,375 1,475 Sales 1,250 1,375 1,505 Print Done Variable costs: Manufacturing cost per unit produced 900 $ 900 $ 900 Operating (marketing) cost per unit sold 500 $ 500 $ 500 Fixed costs: Manufacturing costs 490,000 S 490,000 $ 490,000 Operating (marketing) costs 140,000 $ 140,000 $ 140,000 Print Done

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Solution Given Data Particulars January February March Beginning Inventory Add P... View the full answer