Question

CALCULATOR PRINT Exercise 13-1 Following is Windsor's latest income statement. The company produced and sold 110,900 units during the year. Sales (110.900 units at $52) $5.766,800 Cost of goods sold Direct material $1,464,000 Direct labor 755,000 Variable manufacturing overhead 360,000 Fixed manufacturing overhead 1.309,000 Total cost of goods sold 3,888,000 Gross profit 1,878,800 Selling expenses: Variable 239,000 Fixed 727,000 Total selling expenses 966.000 Operating income $912,800 Restate the income statement in contribution margin format as if Windsor had used a variable costing system to report unit answers to 2 decimal places, e.g. 15.25.) Windsor Income Statement Per Unit Click if you would like to show Work for this questions en Shey Wick

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Answer 1

Income Statement $ 5,766,800 $ Per unit 52.00 Less 1,464,000 755,000 360,000 239,000 Sales Revenue Variable Expenses Direct Material Direct Labor Variable Manufacturing Overhead Variable Selling Expense Total Variable Expense Contribution Margin Fixed Expenses Fixed Manufacturing Overhead Fixed Selling Expense Total Fixed Expense Operating Income $ $ $ $ $ $ 13.20 6.81 3.25 2.16 25.41 26.59 $ $ 2,818,000 2,948,800 Less 1,309,000 727,000 $ $ 2,036,000 912,800 Working: Direct Material Direct Labor Variable Manufacturing Overhead Variable Selling Expense Per unit 1464000 / 110900 units 755000 / 110900 units 360000 / 110900 units 239000 / 110900 units Divide Total cost by number of units to calculate cost per unit.