ACCT 346 Weekly Assignment Week 4
ACCT 346 Weekly Assignment Week 4
Directions: Your assignment this
week is to answer the question below which has four parts. Please show your
work for full credit and use the boxes
provided. Please add more rows or columns to the box if needed.
1. Mountain Air Company has the following selected data for the past year:
Units sold during year
provided. Please add more rows or columns to the box if needed.
1. Mountain Air 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
Fixed manufacturing overhead (in total)
Selling price per unit
Variable selling and administrative expense per unit
Fixed selling and administrative expenses (in total)
Fixed manufacturing overhead (in total)
Selling price per unit
Variable selling and administrative expense per unit
Fixed selling and administrative expenses (in total)
$4.50
$20,250
$12.00
$1.00
$4,000
$20,250
$12.00
$1.00
$4,000
There were no units in beginning
inventory.
Required:
1a. Prepare an income statement for last year using absorption costing.
Required:
1a. Prepare an income statement for last year using absorption costing.
1b. Calculate the value of the
ending inventory using absorption costing.
1c. Prepare an income statement for
last year using variable costing.
1d. Calculate the value of the
ending inventory using variable costing.
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