Question: Begning inventory -1000 with value 19600 Ending inventory - 2000 with 40000 Can you answer the rest of the questons? If you check on chegg,


Begning inventory -1000 with value 19600
Ending inventory - 2000 with 40000
Can you answer the rest of the questons?
If you check on chegg, you can find similar question but not with answers of the blanks 15-20?
Can you help?
Johnson Lug (JL) began making wheelbarrows in early 2018. The company uses standard costing and values their finished goods inventory using FIFO. The results of the company's operations for 2018 are presented below. 2018 2019 Production in units 5.000 4.000 Sales in units 4.000 3.000 Sales price per unit $28 $30 JL has no beginning inventory for 2018. Actual Production Costs: Direct materials $14.00 per unit Direct labour $3.00 per unit Variable overhead $1.00 per unit Fixed overhead $8.000 Actual Selling & Marketing Costs: Variable Marketing 8% of sales Fixed Marketing $4.600 The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 5.000 units. The costs have not changed from year to year. Hint: Type vour answers in the Blank#spaces provided for the questions. NO SPACE OR COMMA should be in your answers. Type $10000 dollars as 10000. Don't put dollar signs. Required: How much is the Production Volume Variance? Determine the COGS for 2019. Determine the gross margin for 2019 What is the operating expense for 2019? What is the absorption costing operating income for 2019 AJ How much is the reconciliation amount between the variable and absorption costing operating income
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