EntertainMe Corporation manufactures and sells 50-inch television sets and uses standard costing. Actual data relating to...

  

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EntertainMe Corporation manufactures and sells 50-inch television sets and uses standard costing. Actual data relating to January, February, and March 2020 are as follows: (Click to view the data.) Data table Unit data: Requirement 1. Pre (a). Prepare income Complete the top hal accounts.) Beginning inventory Production Sales Variable costs: Manufacturing cost per unit produced Operating (marketing) cost per unit sold Fixed costs: Manufacturing costs Operating (marketing) costs $ $ $ $ January The selling price per unit is $3,300. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 1,500 units. There are no price, efficiency, or spending variances. Any production-volume variance is written off to cost of goods sold in the month in which it occurs. Read the requirements. X b) absorption costing. February March er a "0" for any zero balance 1,500 1,350 1,000 $ 800 $ 525,000 $ 130,000 $ 150 1,400 1,400 1,000 $ 800 $ 525,000 $ 130,000 $ 150 1.520 1,530 1,000 800 525,000 130,000 Requirements 1. Prepare income statements for EntertainMe in January, February, and March 2020 under (a) variable costing and (b) absorption costing. 2. Explain the difference in operating income for January, February, and March under variable costing and absorption costing. Print Done EntertainMe Corporation manufactures and sells 50-inch television sets and uses standard costing. Actual data relating to January, February, and March 2020 are as follows: (Click to view the data.) Data table Unit data: Requirement 1. Pre (a). Prepare income Complete the top hal accounts.) Beginning inventory Production Sales Variable costs: Manufacturing cost per unit produced Operating (marketing) cost per unit sold Fixed costs: Manufacturing costs Operating (marketing) costs $ $ $ $ January The selling price per unit is $3,300. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 1,500 units. There are no price, efficiency, or spending variances. Any production-volume variance is written off to cost of goods sold in the month in which it occurs. Read the requirements. X b) absorption costing. February March er a "0" for any zero balance 1,500 1,350 1,000 $ 800 $ 525,000 $ 130,000 $ 150 1,400 1,400 1,000 $ 800 $ 525,000 $ 130,000 $ 150 1.520 1,530 1,000 800 525,000 130,000 Requirements 1. Prepare income statements for EntertainMe in January, February, and March 2020 under (a) variable costing and (b) absorption costing. 2. Explain the difference in operating income for January, February, and March under variable costing and absorption costing. Print Done

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