Unit sales price Direct materials per unit. The following information pertains to the first year of...

Transcribed Image Text:

Unit sales price Direct materials per unit. The following information pertains to the first year of operation for Crystal Cold Coolers Incorporated: Number of units produced Number of units sold 3,000 2,400 $ 350 $ 70 Direct labor per unit $ 55 Variable manufacturing overhead per unit $ 13 Fixed manufacturing overhead per unit ($195,000+3,000 units) Total variable selling expenses ($11 per unit sold) $ 65 Total fixed general and administrative expenses $ 26,400 $ 63,000 Required: 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 Costing Variable Costing Prepare Crystal Cold's full absorption costing income statement for the year. Crystal Cold Coolers Incorporated Full Absorption Costing Sales Less: Cost of goods sold Gross margin Less: Non-manufacturing expenses Income Statement $ 840,000 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 Incorporated Full Absorption Costing Income Statement Sales Less: Cost of goods sold Gross margin Less: Non-manufacturing expenses Variable selling expense Fixed general and administrative expenses Net operating income 840,000 Complete this question by entering your answers in the tabs below. Full Absorption Variable Costing Costing Prepare variable costing income statement for the year. Crystal Cold Coolers Incorporated Less: Variable cost of goods sold Contribution margin Less: Fixed costs Net operating income Variable Costing Income Statement < Full Absorption Costing Variable Costing Unit sales price Direct materials per unit. The following information pertains to the first year of operation for Crystal Cold Coolers Incorporated: Number of units produced Number of units sold 3,000 2,400 $ 350 $ 70 Direct labor per unit $ 55 Variable manufacturing overhead per unit $ 13 Fixed manufacturing overhead per unit ($195,000+3,000 units) Total variable selling expenses ($11 per unit sold) $ 65 Total fixed general and administrative expenses $ 26,400 $ 63,000 Required: 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 Costing Variable Costing Prepare Crystal Cold's full absorption costing income statement for the year. Crystal Cold Coolers Incorporated Full Absorption Costing Sales Less: Cost of goods sold Gross margin Less: Non-manufacturing expenses Income Statement $ 840,000 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 Incorporated Full Absorption Costing Income Statement Sales Less: Cost of goods sold Gross margin Less: Non-manufacturing expenses Variable selling expense Fixed general and administrative expenses Net operating income 840,000 Complete this question by entering your answers in the tabs below. Full Absorption Variable Costing Costing Prepare variable costing income statement for the year. Crystal Cold Coolers Incorporated Less: Variable cost of goods sold Contribution margin Less: Fixed costs Net operating income Variable Costing Income Statement < Full Absorption Costing Variable Costing