REQUIRED: 1 Prepare the Income Statement using the Marginal Costing method. 2 Prepare the Income Statement using
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REQUIRED:
1 Prepare the Income Statement using the Marginal Costing method.
2 Prepare the Income Statement using the Absorption Costing method.
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The following information was extracted from the accounting records of Hilton Manufacturers for the year ended September 2024: Inventory at the beginning of the year Production for the year Sales for the year Selling price per unit Direct Materials cost per unit Direct Labour cost per unit Variable Manufacturing overheads per unit Variable selling and administrative cost per unit Fixed manufacturing overhead cost Fixed selling and administrative cost The company utilises the first-in-first-out method of inventory valuation. UNITS Nil 28 500 24 000 R82 R 22 11 7 5 274 000 95 000 The following information was extracted from the accounting records of Hilton Manufacturers for the year ended September 2024: Inventory at the beginning of the year Production for the year Sales for the year Selling price per unit Direct Materials cost per unit Direct Labour cost per unit Variable Manufacturing overheads per unit Variable selling and administrative cost per unit Fixed manufacturing overhead cost Fixed selling and administrative cost The company utilises the first-in-first-out method of inventory valuation. UNITS Nil 28 500 24 000 R82 R 22 11 7 5 274 000 95 000
Expert Answer:
Answer rating: 100% (QA)
Marginal costing It is an income statement prepared on the basis of the variable and fixed costs inc... View the full answer
Related Book For
Management Accounting
ISBN: 9781760421144
7th Edition
Authors: Kim Langfield Smith, Helen Thorne, David Alan Smith, Ronald W. Hilton
Posted Date:
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