Diaz Company reports the following variable costing income statement for its single product. This company's sales...

  

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Diaz Company reports the following variable costing income statement for its single product. This company's sales totaled 58,000 units, but its production was 88,000 units. It had no beginning finished goods inventory for the current period. DIAZ COMPANY Income Statement (Variable Coating) Sales (58,000 units * $68.00 per unit) Variable expenses $3,944,000 Variable manufacturing expense (58,000 units $28.80 per unit) Variable selling and admin. expense (58,000 units $5.80 per unit) 1,670,400 336,400 Total variable expenses 2,006,800 Contribution margin 1,937,200 Fixed expenses Fixed overhead 422,400 Fixed selling and administrative expense 211,200 Total fixed expenses 633,400 Not income $1,303,600 1. Convert Diaz's variable costing income statement to an absorption costing income statement. 2. Fill in the blanks: Complete this question by entering your answers in the tabs below. Required 1 Required 2 Convert Diaz's variable costing income statement to an absorption costing income statement. DIAZ COMPANY Absorption Costing Income Statement Diaz Company reports the following variable costing income statement for its single product. This company's sales totaled 58,000 units, but its production was 88,000 units. It had no beginning finished goods inventory for the current period. DIAS COMPANY Income Statement (Variable Coating) Sales (58,000 units $68.00 per unit) Variable expenses $3,944,000 1,670,400 Variable manufacturing expense (58,000 units $28.80 per unit) Variable selling and admin. expense (58,000 unita* $5.80 per unit) Total variable expenses 336,400 2,006,800 Contribution margin 1,937,200 Fixed expenses Fixed overhead 422,400 Fixed selling and administrative expense Total fixed expenses 211,200 633,600 Not income $1,303,600 1. Convert Diaz's variable costing income statement to an absorption costing income statement. 2. Fill in the blanks: Complete this question by entering your answers in the tabs below. Required 1 Required 2 Fill in the blanks: (Round the fixed overhead per unit to two decimal places) The dollar difference in variable costing income and absorption costing income Required 1 it ont ferences fed overhead per unit Diaz Company reports the following variable costing income statement for its single product. This company's sales totaled 58,000 units, but its production was 88,000 units. It had no beginning finished goods inventory for the current period. DIAZ COMPANY Income Statement (Variable Coating) Sales (58,000 units * $68.00 per unit) Variable expenses $3,944,000 Variable manufacturing expense (58,000 units $28.80 per unit) Variable selling and admin. expense (58,000 units $5.80 per unit) 1,670,400 336,400 Total variable expenses 2,006,800 Contribution margin 1,937,200 Fixed expenses Fixed overhead 422,400 Fixed selling and administrative expense 211,200 Total fixed expenses 633,400 Not income $1,303,600 1. Convert Diaz's variable costing income statement to an absorption costing income statement. 2. Fill in the blanks: Complete this question by entering your answers in the tabs below. Required 1 Required 2 Convert Diaz's variable costing income statement to an absorption costing income statement. DIAZ COMPANY Absorption Costing Income Statement Diaz Company reports the following variable costing income statement for its single product. This company's sales totaled 58,000 units, but its production was 88,000 units. It had no beginning finished goods inventory for the current period. DIAS COMPANY Income Statement (Variable Coating) Sales (58,000 units $68.00 per unit) Variable expenses $3,944,000 1,670,400 Variable manufacturing expense (58,000 units $28.80 per unit) Variable selling and admin. expense (58,000 unita* $5.80 per unit) Total variable expenses 336,400 2,006,800 Contribution margin 1,937,200 Fixed expenses Fixed overhead 422,400 Fixed selling and administrative expense Total fixed expenses 211,200 633,600 Not income $1,303,600 1. Convert Diaz's variable costing income statement to an absorption costing income statement. 2. Fill in the blanks: Complete this question by entering your answers in the tabs below. Required 1 Required 2 Fill in the blanks: (Round the fixed overhead per unit to two decimal places) The dollar difference in variable costing income and absorption costing income Required 1 it ont ferences fed overhead per unit

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