Homework Answers
| Income Statement A- Absorption Costing - Kameria Inc. | ||||
| Q-1 | Q-2 | |||
| Qty Sold | 82000 | 155000 | ||
| Sales @$125 | $10,250,000.00 | $19,375,000.00 | ||
| Less: Cost of Goods Sold | ||||
| Beginning FG Inventory | $0.00 | $2,033,000.00 | ||
| AddL
Cost of Goods Manufactured (50*120000)+420000 |
$6,420,000.00 | $6,420,000.00 | ||
| Total Cost of Goods Available for Sale | $6,420,000.00 | $8,453,000.00 | ||
| Less:
Ending FG Q-1: (120000-82000)*6420000/120000, Q-2: (120000+38000-155000)*8453000/158000 |
-$2,033,000.00 | -$160,500.00 | ||
| Cost of goods SOld | $4,387,000.00 | $8,292,500.00 | ||
| Gross Margin From Sales | $5,863,000.00 | $11,082,500.00 | ||
| Less: Operating Expense | ||||
| Variable Advertising Cost @ $50 | $4,100,000.00 | $7,750,000.00 | ||
| Fixed Advertising Cost | $105,000.00 | $105,000.00 | ||
| Total operating Expense | $4,205,000.00 | $7,855,000.00 | ||
| Operating Income | $1,658,000.00 | $3,227,500.00 | ||
Variable costing Method should be followed for internal Decision making
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Sims Company, a manufacturer of tablet computers, began
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Direct materials
$
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per unit
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per unit
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per unit
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(per year)
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Exercise 06-3 Income reporting under absorption costing and
variable costing LO P2
Sims Company, a manufacturer of tablet computers, began
operations on January 1, 2019. Its cost and sales information for
this year follows.
Manufacturing costs
Direct materials
$
30
per unit
Direct labor
$
50
per unit
Overhead costs
Variable
$
20
per unit
Fixed
$
8,400,000
(per year)
Selling and administrative costs for the year
Variable
$
725,000
Fixed
$
4,250,000
Production and sales for the year
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