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Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2017, the company incurred the following costs.

Variable Costs per Unit
Direct materials		$ 7.88
Direct labor		$ 3.62
Variable manufacturing overhead		$ 6.09
Variable selling and administrative expenses		$ 4.10
Fixed Costs per Year
Fixed manufacturing overhead		$ 241,960
Fixed selling and administrative expenses		$ 220,605

Siren Company sells the fishing lures for $ 26.25. During 2017, the company sold 80,000 lures and produced 92,000 lures.

Assuming the company uses variable costing, calculate Sirens manufacturing cost per unit for 2017. (Round answer to 2 decimal places, e.g.10.50.)

Manufacturing cost per unit

$

eTextbook and Media

Prepare a variable costing income statement for 2017. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

SIREN COMPANY Income Statement December 31, 2017For the Quarter Ended December 31, 2017For the Year Ended December 31, 2017 Variable Costing
Administrative ExpensesContribution MarginFixed Manufacturing OverheadFixed Selling and Administrative ExpensesGross ProfitNet Income/(Loss)SalesTotal Fixed ExpensesTotal Variable ExpensesVariable Cost of Goods SoldVariable Selling and Administrative Expenses				$
Administrative ExpensesContribution MarginFixed Manufacturing OverheadFixed Selling and Administrative ExpensesGross ProfitNet Income/(Loss)SalesTotal Fixed ExpensesTotal Variable ExpensesVariable Cost of Goods SoldVariable Selling and Administrative Expenses		$
Administrative ExpensesContribution MarginFixed Manufacturing OverheadFixed Selling and Administrative ExpensesGross ProfitNet Income/(Loss)SalesTotal Fixed ExpensesTotal Variable ExpensesVariable Cost of Goods SoldVariable Selling and Administrative Expenses
Administrative ExpensesContribution MarginFixed Manufacturing OverheadFixed Selling and Administrative ExpensesGross ProfitNet Income/(Loss)SalesTotal Fixed ExpensesTotal Variable ExpensesVariable Cost of Goods SoldVariable Selling and Administrative Expenses
Administrative ExpensesContribution MarginFixed Manufacturing OverheadFixed Selling and Administrative ExpensesGross ProfitNet Income/(Loss)SalesTotal Fixed ExpensesTotal Variable ExpensesVariable Cost of Goods SoldVariable Selling and Administrative Expenses
Administrative ExpensesContribution MarginFixed Manufacturing OverheadFixed Selling and Administrative ExpensesGross ProfitNet Income/(Loss)SalesTotal Fixed ExpensesTotal Variable ExpensesVariable Cost of Goods SoldVariable Selling and Administrative Expenses
Administrative ExpensesContribution MarginFixed Manufacturing OverheadFixed Selling and Administrative ExpensesGross ProfitNet Income/(Loss)SalesTotal Fixed ExpensesTotal Variable ExpensesVariable Cost of Goods SoldVariable Selling and Administrative Expenses				$

eTextbook and Media

Assuming the company uses absorption costing, calculate Sirens manufacturing cost per unit for 2017. (Round answer to 2 decimal places, e.g.10.50.)

Manufacturing cost per unit

$

eTextbook and Media

Prepare an absorption costing income statement for 2017. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)

SIREN COMPANY Income Statement For the Year Ended December 31, 2017For the Quarter Ended December 31, 2017December 31, 2017 Absorption Costing
Administrative ExpensesContribution MarginCost of Goods SoldFixed Manufacturing OverheadFixed Selling and Administrative ExpensesGross ProfitNet Income/(Loss)SalesTotal Fixed ExpensesTotal Variable ExpensesVariable Cost of Goods SoldVariable Selling and Administrative Expenses				$
Administrative ExpensesContribution MarginCost of Goods SoldFixed Manufacturing OverheadFixed Selling and Administrative ExpensesGross ProfitNet Income/(Loss)SalesTotal Fixed ExpensesTotal Variable ExpensesVariable Cost of Goods SoldVariable Selling and Administrative Expenses
Administrative ExpensesContribution MarginCost of Goods SoldFixed Manufacturing OverheadFixed Selling and Administrative ExpensesGross ProfitNet Income/(Loss)SalesTotal Fixed ExpensesTotal Variable ExpensesVariable Cost of Goods SoldVariable Selling and Administrative Expenses
Administrative ExpensesContribution MarginCost of Goods SoldFixed Manufacturing OverheadFixed Selling and Administrative ExpensesGross ProfitNet Income/(Loss)SalesTotal Fixed ExpensesTotal Variable ExpensesVariable Cost of Goods SoldVariable Selling and Administrative Expenses		$
Administrative ExpensesContribution MarginCost of Goods SoldFixed Manufacturing OverheadFixed Selling and Administrative ExpensesGross ProfitNet Income/(Loss)SalesTotal Fixed ExpensesTotal Variable ExpensesVariable Cost of Goods SoldVariable Selling and Administrative Expenses
Administrative ExpensesContribution MarginCost of Goods SoldFixed Manufacturing OverheadFixed Selling and Administrative ExpensesGross ProfitNet Income/(Loss)SalesTotal Fixed ExpensesTotal Variable ExpensesVariable Cost of Goods SoldVariable Selling and Administrative Expenses				$

Ch10H Part Siren Company builds custom fishing lures for sporting Aoods stores. In its first year of operations, 2017, the company incurred the fol lowing costs Variable Costs per Unit Dire.t materials Direct labor VariableIanfalurinng uver head Variabla selling and administrative cxpenscs $7.88 3.62 6.02 4.10 Fixed Costs per Year Hixed manufacturing overhead Fixed sellin ad admirisralive experises 241960 220,605 Siren Cnmpany sells thenshing lures for $26.25. During017. thernmpany sn AN 000 lures and prndured 92.000 lures Assuuming the rompany uses variahlc costing, calculate Siren's manufactuing cost per unit for 2017. (Raund answer to 2 decimal places, e-g.10.50) Manufacturing cost per unit eTextbook and Media Preparaavariable costing incoma statement for 2017. Enter negative amounts using either a negative sign preceding the number es-45 or parentheses e8-(45) SIRFN COMPANY Variable Cosling O lype hene to search