12:05 High Country, Inc, produces and sells many recreational products. The comp

Question

12:05 High Country, Inc, produces and sells many recreational products. The company has just opened a new plant lo produce a folding camp cot tht will be marketed throughout the Unbed States. The following cost and revenue data relate to May ite Int of the plant's beand has asked that arm Management aracous to see how profitable te new ca pcolu income statement be prepared for May Required . Assume that the company uses absorption costing a Determine the unit product co b. Prepare an income statement for May 2 Assume that the company uses variable costing a. Determine the unit product cost b. Preparo a cotebution format income tement for May

Explanation / Answer

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Question image is unclear, But i give you answer of Same Question.

1). Absorption Costing :-

a). Unit Product Cost :-

b). Income Statement :-

2). Variable Costing :-

a) Unit Product Cost :-

b). Income Statement :-

Particulars Amount ($) Direct Material (43000 units * $5) 645000 Direct Labor (43000 units * $10) 430000 Variable Manufacturing Overhead (43000 * $2) 86000 Fixed Manufacturing Overhead 774000 Total Product Cost 1935000 Product Cost Per unit ($1935000 / 43000) 45

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