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Business, 15.07.2020 01:01 jakebuttone

Unit cost 4. During 2015, M Co. sold 30000 units at $60 per unit. The beginning period showed 5000 units in
inventory and produced 25000 units during the year. The following production costs and selling
and administrative expenses were:
Number of
Total costs
Units
Beginning inventory:
Direct materials
$ 33,500
5,000
Direct labor
77,500
5,000
Variable factory overhead
9,000
5,000
Fixed factory overhead
10,000
5,000
$
6.70
15.50
1.80
2.00
$
Current period costs:
Direct materials
Direct labor
Variable factory overhead
Fixed factory overhead
$ 175,000
405,000
45,000
50,000
25,000
25,000
25,000
25,000
7.00
16.20
1.80
2.00
Selling and administrative expenses:
Variable
Fixed
$ 65,000
45,000
Instructions: NOTE: SHOW ALL WORK.
1. Prepare both an absorption and variable costing income statement.
2. Determine and give reason for difference in income from operations in part (1).

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