Question: i need the manufacturing cost per unit, prepare a variable costing income statement for 2020, and prepare an absorption income statement for 2020, Siren Company


Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2020, the company incurred the following costs. Variable Costs per Unit Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative expenses $9.45 $4.35 $7.31 $4.91 Fixed Costs per Year Fixed manufacturing overhead Fixed selling and administrative expenses $286,650 $264,726 Siren Company sells the fishing lures for $31.50. During 2020, the company sold 82,000 tures and produced 91,000 lures. (a) SIREN COMPANY Income Statement Absorption Costing Administrative Expenses Contribution Margin Cost of Goods Sold Fixed Manufacturing Overhead Fixed Selling and Administrative Expenses Gross Profit Net Income/(Loss) Sales Total Fixed Expenses Total Variable Expenses Variable Cost of Goods Sold Variable Selling and Administrative Expenses . SIREN COMPANY Income Statement Variable Costing $ Administrative Expenses Contribution Margin Fixed Manufacturing Overhead Fixed Selling and Administrative Expenses Gross Profit Net Income/(Loss) Sales Total Fixed Expenses Total Variable Expenses Variable Cost of Goods Sold Variable Selling and Administrative Expenses
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