1.MountainAir Company has the following selected data for the past year: Units sold during year 30,000 Units produced during year 45,000 Units in ending inventory � 15,000 Variable manufacturing cost per unit $ 4.50 Fixed manufacturing overhead (in total) � $ 20,250 Selling price per unit $ 12.00 Variable selling and administrative expense per unit $ 1.00 Fixed selling and administrative expenses (in total) $ 4,000 There were no units in beginning inventory. Required: a. Prepare an income statement for last year using absorption (full) costing. b. Calculate the total value of the ending inventory using absorption (full) costing. c. Prepare an income statement for last year using variable costing (i.e., contribution margin income statement). “� d. Calculate the total value of the ending inventory using variable costing. Answer:
Previous answers to this question
This is a preview of an assignment submitted on our website by a student. If you need help with this question or any assignment help, click on the order button below and get started. We guarantee authentic, quality, 100% plagiarism free work or your money back.
Get The Answer