60.1K

Verified Solution

Link Copied!

The following information pertains to the first year of operation for Crystal Cold Coolers Inc.:

Number of units produced		3,000
Number of units sold		2,400
Unit sales price	$	335
Direct materials per unit	$	55
Direct labor per unit	$	50
Variable manufacturing overhead per unit	$	13
Fixed manufacturing overhead per unit ($195,000/3,000 units)	$	65
Total variable selling expenses ($13 per unit sold)	$	31,200
Total fixed general and administrative expenses	$	60,000

Required:

Prepare Crystal Colds full absorption costing income statement and variable costing income statement for the year.

Full Absorption Costing Variable Costing Prepare Crystal Cold's full absorption costing income statement for the year. s 352.000 CRYSTAL COLD COOLERS INC. 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 Full Absorption Costing Variable Costing Prepare variable costing income statement for the year. CRYSTAL COLD COOLERS INC. Variable Costing Income Statement Sales Less: variable cost of goods sold Variable Selling Expenses Cost of Goods Sold Contribution Margin Less: Fixed Costs Faced General and Administrative Expenses Fixed Manufacturing Overhead Expenses Net Operating Income

Answer & Explanation Solved by verified expert

See Answer