Maurice Tutor

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    Argosy University/ Phoniex University/
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    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 05 Aug 2017 My Price 13.00

Oak Mart

[The following information applies to the questions displayed below.]

Oak Mart, a producer of solid oak tables, reports the following data from its second year of business.

 

       
Sales price per unit $ 300 per unit
Units produced this year   110,000 units
Units sold this year   113,000 units
Units in beginning-year inventory   3,000 units
Beginning inventory costs      
Variable (3,000 units × $135) $ 405,000  
Fixed (3,000 units × $75)   225,000  
   
Total $ 630,000  
Manufacturing costs this year      
Direct materials $ 50 per unit
Direct labor $ 64 per unit
Overhead costs this year      
Variable overhead $ 3,600,000  
Fixed overhead $ 7,400,000  
Selling and adminstrative costs this year      
Variable $ 1,350,000  
Fixed   4,400,000  

 

1.

Prepare the current year income statement for the company using variable costing.
   

 

 

 

 

2.00 points Required information

2.

Prepare the current year income statement for the company using absorption costing.

 

Answers

Maurice Tutor
(5)
Status NEW Posted 05 Aug 2017 11:08 PM My Price 13.00

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