An Engineering firm operates a job costing system. Production overhead Solo ltd makes and sells a single product the following data relates to period 1 to 4. Variable cost per unit 2100 selling price per unit 3850 fixed cost per unit 420000 normal activity is 500 units and product sales for the period are as follows: period 1 sales 500 production 500 periods 2 sales 400 production 500 periods 3 sales 550 production 450 periods 4 sales 450 productions 500. There were no opening inventory at the start of the period required: 

prepare operating/ profit statement for each of the periods 1 to 4 based on marginal costing principals 

to prepare operating/profit statements for each of the periods 1 to 4 based on absorption costing principals?

Answer rating: 100% (QA)

Prepare operating profit statement based on marginal costing principals as follows Operating Profit Statement under Marginal Costing Particulars Period 1 2 3 4 Sales Units a 500 400 550 450 Sales Valu... View the full answer