Accounting Homework

Fletcher Company manufactures and sells one product. The following information pertains to to each one of the participations first two familys of operations shifting apostrophizes per unit Manufacturing Direct materials $ 20 Direct labor $ 12 inconstant manufacturing overhead $ 4 unsettled merchandising and administrative $ 3 resolved cost per twelvemonth unconquerable manufacturing overhead $ 200,000 Fixed exchange and administrative expenses $ 80,000 During its first stratum of operations, Fletcher produced 50,000 units and sell 40,000 units.During its second course of instruction of operations, it produced 40,000 units and sold 50,000 units. The selling price of the smart sets product is $50 per unit. 1. birth the guild uses variable cost a. Compute the unit product cost for year 1 and year 2. ( knock off the $ condense in your response. ) yr 1 stratum 2 Unit product cost $ $ b. Prepare an income teaching for year 1 and year 2. (Input all amounts as commanding value but losses which should be indicated by a electronegative sign. throw off the $ sign in your response. ) Year 1 Year 2 $ $ inconstant expenses Total variable expenses Fixed expenses Total fixed expenses $ $ 2. Assume the fellowship uses submergence costing a. Compute the unit product cost for year 1 and year 2. ( throw away the $ sign in your response. ) Year 1 Year 2 Unit product cost $ $ b. Prepare an income education for year 1 and year 2. (Input all amounts as positive set except losses which should be indicated by a minus sign. Omit the $ sign in your response. ) Year 1 Year 2 $ $ $ $ 3. harmonise the conflict between variable costing and absorption costing web operational income in year 1 and year 2. (Input all amounts as positive set except losses which should be indicated by a minus sign. Omit the $ sign in your response. ) Year 1 Year 2 Variabl e costing dinero operating income (loss) $ $ Absorption costing net operating income $ $ Fletcher Company manufactures and sells one product. The following information pertains to each of the companys first two years of operations Variable costs per unit Manufacturing Direct materials $ 20 Direct labor $ 12 Variable manufacturing overhead $ 4 Variable selling and administrative $ 3 Fixed costs per year Fixed manufacturing overhead $ 200,000 Fixed selling and administrative expenses $ 80,000 During its first year of operations, Fletcher produced 50,000 units and sold 40,000 units. During its second year of operations, it produced 40,000 units and sold 50,000 units. The selling price of the companys product is $50 per unit. 1. Assume the company uses variable costing a. Compute the unit product cost for year 1 and year 2. Omit the $ sign in your response. ) Year 1 Year 2 Unit product cost $ $ b. Prepare an income tale for year 1 and year 2. (Input all amounts as positive values except losses which should be indicated by a minus sign. Omit the $ sign in your response. ) Year 1 Year 2 $ $ Variable expenses Total variable expenses Fixed expenses Total fixed expenses $ $ 2. Assume the company uses absorption costing a. Compute the unit product cost for year 1 and year 2. Omit the $ sign in your response. ) Year 1 Year 2 Unit product cost $ $ b. Prepare an income statement for year 1 and year 2. (Input all amounts as positive values except losses which should be indicated by a minus sign. Omit the $ sign in your response. ) Year 1 Year 2 $ $ $ $ 3. Reconcile the difference between variable costing and absorption costing net operating income in year 1 and year 2. (Input all amounts as positive values except losses which should be indicated by a minus sign. Omit the $ sign in your response. Year 1 Year 2 Variable costing net operating in come (loss) 160,000 270,000 Add Fixed manufacturing overhead cost deferred in inventory under absorption costing 40000 Deduct fixed manufacturing overhead cost released inventory under absorption costing ______ Absorption costing net operating income 20000