Maurice Tutor

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Teaching Since: May 2017
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 17 Aug 2017 My Price 7.00

variable manufacturing costs

*P6-7B FAB produces fabrics that are used for clothing and other applications. In 2013, the first year of operations, FAB produced 500,000 yards of fabric and sold 400,000 yards. In 2014, the production and sales results were exactly reversed. In each year, selling price per yard was $2.50, variable manufacturing costs were 30% of the sales price of units pro- duced, variable selling expenses were 10% of the selling price of units sold, fixed manufac- turing costs were $400,000, and fixed administrative expenses were $100,000.

Instructions

(a)  Prepare income statements for each year using variable costing. (Use the format from Illustration 6A-10.)

(b)  Prepare income statements for each year using absorption costing. (Use the format from Illustration 6A-11.)

(c)   Reconcile the differences each year in income from operations under the two costing approaches.

(d)  Comment on the effects of production and sales on net income under the two costing approaches.

Answers

Maurice Tutor
(5)
Status NEW Posted 17 Aug 2017 07:08 PM My Price 7.00

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