Harvest, Inc. has collected the following data for November (there are no beginning inventories): (Click the...

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Harvest, Inc. has collected the following data for November (there are no beginning inventories): (Click the icon to view the data.) Read the requirements. Requirement 1. Using absorption costing, calculate the unit product cost. (Round your final answer to the nearest cent.) Unit product cost Absorption costing 152.5 Requirement 2. Prepare an income statement using the traditional format. Harvest, Inc. Income Statement (Absorption Costing) For the Month Ended November 30 Data table Units produced and sold Sales price 350 units $375 per unit Direct materials 60 per unit Net Sales Revenue 131250 Direct labor 52 per unit Cost of Goods Sold 53375 Gross Profit Selling and Administrative Costs 8175 Variable manufacturing overhead Fixed manufacturing overhead Variable selling and administrative costs 24 per unit 5,775 per month Operating Income Fixed selling and administrative costs 45 per unit 4,675 per month Requirements 1. Using absorption costing, calculate the unit product cost. 2. Prepare an income statement using the traditional format. Print Done Print Done - X Harvest, Inc. has collected the following data for November (there are no beginning inventories): (Click the icon to view the data.) Read the requirements. Requirement 1. Using absorption costing, calculate the unit product cost. (Round your final answer to the nearest cent.) Unit product cost Absorption costing 152.5 Requirement 2. Prepare an income statement using the traditional format. Harvest, Inc. Income Statement (Absorption Costing) For the Month Ended November 30 Data table Units produced and sold Sales price 350 units $375 per unit Direct materials 60 per unit Net Sales Revenue 131250 Direct labor 52 per unit Cost of Goods Sold 53375 Gross Profit Selling and Administrative Costs 8175 Variable manufacturing overhead Fixed manufacturing overhead Variable selling and administrative costs 24 per unit 5,775 per month Operating Income Fixed selling and administrative costs 45 per unit 4,675 per month Requirements 1. Using absorption costing, calculate the unit product cost. 2. Prepare an income statement using the traditional format. Print Done Print Done - X

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Harvest Inc November Income Statement Absorption Costing 1 Unit Product Cost Absorption Costing We can calculate the unit product cost by considering ... View the full answer