Question: please help with full absorption costing and variable costing. thank you! The following Information pertains to the first year of operation for Crystal Cold Coolers


The following Information pertains to the first year of operation for Crystal Cold Coolers Inc.: Number of units produced Number of units sold Unit sales price Direct materials per unit Direct labor per unit Variable manufacturing overhead per unit Fixed manufacturing overhead per unit ($210,000/2,see units) Total variable selling expenses ($11 per unit sold) Total fixed general and administrative expenses $ 3 5 S 2,800 2,400 335 65 50 11 75 3 $ 26,400 $ 57,000 Required: Prepare Crystal Cold's full absorption costing income statement and variable costing income statement for the year. Prepare Crystal Cold's full absorption costing Income statement and variable costing income statement for the year. Complete this question by entering your answers in the tabs below. Full Absorption Variable Costing Costing Prepare Crystal Cold's full absorption costing income statement for the year. CRYSTAL COLD COOLERS INC. Full Absorption Costing Income Statement Less: Cost of Goods Sold Gross Margin Less: Non-Manufacturing Expenses Net Operating Income Full Absorption Costing Variable Costing Prepare variable costing income statement for the year. Less: variable cost of goods sold Contribution Margin Less: Fixed Costs CRYSTAL COLD COOLERS INC. Variable Costing Income Statement Net Operating Income
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
