NOI - Beginning inventory (40000x40) 1600000 Goods...

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INCOME STATEMENT Beginning Inventory 0 Units Produced 40000 Units Sold 35000 Ending inventory 5000 Selling price per unit 60 Selleng and administrative expenses Variable per unit 2 Fixed(total) 560000 Manufacturing costs: Direct material cost per unit 15 Direct labor cost per unit 7 Variable manufacturing overhead cost per unit 2 Fixed manufacturing overhead cost (total) 640000 Unit product cost Absorbtion Direct material cost per unit 15 Direct labor cost per unit 7 Variable manufacturing overhead cost per unit 2 Fixed manufacturing overhead cost 16 (640000/40000) 40 Sales (35000x60) 2100000 Cost of Goods Sold:
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Unformatted text preview: Beginning inventory (40000x40) 1600000 Goods available for sale 1600000 (5000x40) 200000 Cost of Goods Sold 1400000 Gross Margin 700000 Selling and Administrative Expenses (35000x2+ 560000 630000 NOI 70000 Add Cost of Goods Manufactured Less Ending Inventory Variable Direct material cost per unit 15 Direct labor cost per unit 7 Variable manufacturing overhead cost per un 2 24 2100000 (40000x24) 960000 960000 (5000x24) 120000 840000 (35000x2) 70000 910000 Contribution margin 1190000 640000 560000 1200000-10,000...
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This note was uploaded on 07/13/2009 for the course ACCOUNTING ACG2071 taught by Professor Pelt during the Spring '09 term at Gulf Coast Community College.

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NOI - Beginning inventory (40000x40) 1600000 Goods...

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