17 Chuck Wagon Grills, Inc., makes a single product-a handmade specialty barbecue grill that it...
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17 Chuck Wagon Grills, Inc., makes a single product-a handmade specialty barbecue grill that it sells for $210. Data for last year's operations follow: Units in beginning inventory... 0 Units produced ......... 20,000 Units sold ...... 19,000 Units in ending inventory 1,000 Variable costs per unit: Direct materials. S 50 Direct labor....... 80 Variable manufacturing overhead 20 Variable selling and administrative 10 Total variable cost per unit ....... $160 Fixed costs: Fixed manufacturing overhead $700,000 Fixed selling and administrative 285,000 Total fixed costs .... $935,000 Required: 1. Assume that the company uses variable costing. Compute the unit product cost for one barbecue grill. 2. Assume that the company uses variable costing. Prepare a contribution format income statement for the year
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