Problem 5-1

Ridgewood Electronics produces a wireless home lighting device that allows consumers to turn on home lights from their cars and light a safe path into and through their homes. Information on the first three years of business is as follows:

Total 48,000 48,000 Units sold Units produced Fixed production costs Variable production costs per unit Selling price per unit Fixed selling and administrative expense 2017 16,000 16,000 $700,000 $149 $252 $240,000 2018 16,000 20,000 $700,000 $149 $252 $240,000 2019 16,000 12,000 $700,000 $149 $252 $240,000 Your answer is partially correct. Try again. Calculate profit and the value of ending inventory for each year using full costing. (Round cost per unit to 2 decimal places, e.g. 15.25 and final answers to O decimal places, e.g. 125.) 2017 2018 2019 Net profit 708000 112000 1304000 x Ending inventory 1008000 LINK TO TEXT LINK TO TEXT Your answer is partially correct. Try again. Calculate profit and the value of ending inventory for each year using variable costing. 2017 2018 2019 X Net profit Ending Inventory Click if you would like to Show Work for this question: Open Show Work