Cool Sky reports the following costing data on its product for its first year of operations....

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Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 46,000 units and sold 38,000 units at a price of $110 per unit. Manufacturing conta Direct materials per unit Direct labor per unit Variable overhead per unit Fixed overhead for the year Selling and administrative coata Variable selling and administrative cont per unit Fixed sel1ling and adminiatrative cost per year 42 16 $414, 000 S10 $105, 000 1a. Assume the company uses absorption costing. Determine its product cost per unit. Per unit product 2t using: Absorption costing Total cost per unit Required information [The following information applies to the questions displayed below] Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 46,000 units and sold 38,000 units at a price of $110 per unit. Manufacturing coata Direct materiala per unit Direct labor per unit Variable overhead per unit Fixed overhead for the yeaI Selling and administrative costs Variable selling and administrative cost per unit 42 16 $414,000 10 Fixed selling and administrative coat per year $105, 000 1b. Assume the company uses absorption costing. Prepare its income statement for the year under absorption costing. COOL SKY Absorption Costing Income Statement Net income (loss) Required information [The following information applies to the questions displayed below.] Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 46,000 units and sold 38,000 units at a price of $110 per unit. Manufacturing coats Direct materials per unit Direct labor per unit Variable overhead per unit Fixed overhead for the year 42 S16 $414,000 Selling and administrative costs Variable selling and administrative cost per unit Fixed selling and adminiatrative cost per year $10 $105, 000 20. Assume the company uses variable costing. Determine its product cost per unit. Variable Per unit product cost using: costing ces Total cost per unit Required information (The following information applies to the questions displayed below.) Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 46,000 units and sold 38,000 units at a price of $110 per unit. Manufacturing costa Direct materials per unit 42 $16 Direct labor per unit Variable overhead per unit Fixed overhead for the year Selling and administrative conta Variable selling and administrative cont per unit Fixed selling and administrative cost per year $414,000 10 $105,000 2b. Assume the company uses variable costing. Prepare its income statement for the year under variable costing. COOL SKY Variable Costing Income Statement Net income (loss) Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 46,000 units and sold 38,000 units at a price of $110 per unit. Manufacturing conta Direct materials per unit Direct labor per unit Variable overhead per unit Fixed overhead for the year Selling and administrative coata Variable selling and administrative cont per unit Fixed sel1ling and adminiatrative cost per year 42 16 $414, 000 S10 $105, 000 1a. Assume the company uses absorption costing. Determine its product cost per unit. Per unit product 2t using: Absorption costing Total cost per unit Required information [The following information applies to the questions displayed below] Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 46,000 units and sold 38,000 units at a price of $110 per unit. Manufacturing coata Direct materiala per unit Direct labor per unit Variable overhead per unit Fixed overhead for the yeaI Selling and administrative costs Variable selling and administrative cost per unit 42 16 $414,000 10 Fixed selling and administrative coat per year $105, 000 1b. Assume the company uses absorption costing. Prepare its income statement for the year under absorption costing. COOL SKY Absorption Costing Income Statement Net income (loss) Required information [The following information applies to the questions displayed below.] Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 46,000 units and sold 38,000 units at a price of $110 per unit. Manufacturing coats Direct materials per unit Direct labor per unit Variable overhead per unit Fixed overhead for the year 42 S16 $414,000 Selling and administrative costs Variable selling and administrative cost per unit Fixed selling and adminiatrative cost per year $10 $105, 000 20. Assume the company uses variable costing. Determine its product cost per unit. Variable Per unit product cost using: costing ces Total cost per unit Required information (The following information applies to the questions displayed below.) Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 46,000 units and sold 38,000 units at a price of $110 per unit. Manufacturing costa Direct materials per unit 42 $16 Direct labor per unit Variable overhead per unit Fixed overhead for the year Selling and administrative conta Variable selling and administrative cont per unit Fixed selling and administrative cost per year $414,000 10 $105,000 2b. Assume the company uses variable costing. Prepare its income statement for the year under variable costing. COOL SKY Variable Costing Income Statement Net income (loss)

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1a Per unit product cost using Absorption Costing Direct materials per unit 4200 Direct labor per un... View the full answer