could you teach me how to solve these. 1. (10 points) Penny Black Ltd.,...
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could you teach me how to solve these.
1. (10 points) Penny Black Ltd., which has only one product, has provided the following data concerning its most recent month of operations Selling price $104 Units in beginning inventorv Units produced Units sold Units in ending inventorv 27,000 21,000 6,000 Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative $32 $23 $8 $5 Fixed costs Fixed manufacturing overhead Fixed selling and administrative $270,000 $150,000 Required a. What is the unit product cost for the month under variable costing? b. What is the unit product cost for the month under absorption costing? c. Prepare an income statement for the month using the contribution format and the variable costing method Prepare an income statement for the month using the traditional format and the absorption costing method. d
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