Question: Check my work Problem 6A-5 Super-Variable Costing, Variable Costing, and Absorption Costing Income Statements [L06-2, LO6-6 Bracey Company manufactures and sells one product. The following

 Check my work Problem 6A-5 Super-Variable Costing, Variable Costing, and Absorption

Check my work Problem 6A-5 Super-Variable Costing, Variable Costing, and Absorption Costing Income Statements [L06-2, LO6-6 Bracey Company manufactures and sells one product. The following Information pertalns to the company's first year of operations: Variable cost per unit Direct materials 28 Fixed costs per year Direct labor Fixed manufacturing overhead Fixed selling and administrative expenses 367,580 $ 389,558 $ 66,8e8 The company does not Incur any variable manufacturing overhead costs or varlable selling and administrative expenses. During its first year of operations, Bracey produced 24,500 units and sold 22.700 units. The sellilng price of the company's product is $65 per unit. Requlrec 1. Assume the company uses super-varlable costing: a. Compute the unit product cost for the year b. Prepare an Income statement for the year. 2. Assume the company uses a varlable costing system that assigns $15.00 of direct labor cost to each unit produced: a. Compute the unit product cost for the year b. Prepare an Income statement for the year. 3. Assume the company uses an absorption costing system that assigns $15.00 of dlrect labor cost and $15.90 of fixed manufacturing overhead cost to each unit produced: a. Compute the unit product cost for the year b. Prepare an Income statement for the year. 4a. Reconcile the difference between the super-varlable costing and varlable costing net operating Incomes 4b. Reconcile the difference between the super-variable costing and absorption costing net operating Incomes. Complete this question by entering your answers in the tabs below Req 1A Req 1B Req 2A Req 2B Req 3A Req 3B Req 4A Req 4B Compute the unit product cost for the year. Assume the company uses super-variable costing t product cost

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!