WileyPLUS Weygandt, Financial & Managerial ACCT 105s & 100 Chapter 20 Siren Comp

Question

WileyPLUS Weygandt, Financial & Managerial ACCT 105s & 100 Chapter 20 Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2017, the company incurmed the following costs Cxercise 20-1 $7.50 $3.45 $5.80 3.90 Direct laber Review Scere Review Results by Study Variable selling and administrative expenses Fixed seling and administrative expenses $210,100 Your answer is correct Assuming the company uses variable costing, calculate Siren's manufactuning cost per unit for 2017 (Round answer to 2 decimal places, e.g.1o.so) MacBook Ai 1 8 2 0

Explanation / Answer

Variable Costing Sales 2000000 Variable cost of Goods Sold ($16.75*80000) 1340000 Variable Selling & Admin Expense ($3.90*80000) 312000 1652000 Contibution Margin 348000 Fixed Manufactuing Overhead 225000 Fixed Selling & Admini. Expense 210100 435100 Net Income/(Loss) -87100 Absorption Costing Sales 2000000 Cost of Goods Sold {$16.75+(225000/90000)}*80000 1540000 Gross Profit 460000 Variable Selling & Admin Expense ($3.90*80000) 312000 Fixed Selling & Admini. Expense 210100 522100 Net Income/(Loss) -62100

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