NEED HELP ON Budgeted Operating Income Using Variable (Direct) Costing

20x2 Cost Rounded to 2 Decimal Places

Sales $1,581,000.00

Variable Cost of Goods Sold- Assume FIFO (First-In, First-Out) var cost x 3000

Beginning Inventory, Finished Goods (Variable Costing) $59,218.50 {11.02}

Production Costs:

Materials:

Figurines: $305,037.50

Electrical Parts $41,445.31

Lamp Shades: $199,072.50

Labor:

Variable Overhead:

Total Variable Production Costs {11.03}

Cost of Goods Available For Sale

Less:Ending Inventory, Finished Goods (Variable Costing) {11.04}

Variable Cost of Goods Sold

Variable Selling(Round to two places, $##.##) {11.05}

Variable Administrative(Round to two places, $##.##) {11.06}

Total Variable Costs

Contribution Margin {11.07}

Fixed Costs:

Fixed Manufacturing Overhead

Fixed Selling

Fixed Administrative

Total Fixed {11.08}

Operating Income, Variable Costing {11.09}

Operating Income, Absorption

Operating Income, Variable Costing

Excess (Absorption Costing Operating Income - Variable Costing Operating Income) {11.10}

Budgeted Fixed Overhead

Budgeted Number of Units to be Produced

Budgeted Fixed Cost Per Unit (Round to 7 decimals #.#######) {11.11}

Fixed Manufacturing Overhead in the Ending Inventory {11.12}

Fixed Manufacturing Overhead in the Beginning Inventory {11.13}

Increase (Fixed Manufacturing Overhead in the Ending Inventory-Fixed Manufacturing Overhead in the Beginning Inventory) {11.14}