Zippy company manufactured 10,000 units in December with a total product cost of $20203 They had...
Zippy company manufactured 10,000 units in December with a total product cost of $20203 They had zero finished goods inventory at the start of December. In December Zippy sold 7418 units at a unit price of $6.46. Period expenses were $3566. What is the amount of Zippy's operating income?
Homework Answers
Cost per unit
= Total cost of goods manufactured / Number of units
= $ 20,203 / 10,000
= $ 2.0203 per unit
So, Cost of goods sold
= Number of units x Cost per unit
= 7,418 x $ 2.0203
= $ 14,986.59
So, operating income
= Sales – Cost of goods sold – Period expenses
= 7,418 x $6.46 - $ 14,986.58 - $ 3,566
= $ 29,367.69
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