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Unformatted text preview: FileName: f3b39477b5b2a22a844a6620150246b2b4e951f1.xls, Tab: Exercise E7-4, Page 1 of 2, 12/28/2011, 19:01:39 Name: Date: Instructor: Course: Variable cost per unit Fixed costs per year Direct materials $7.50 Fixed manufacturing overhead $234,650 Direct labor 2.45 Fixed selling and admin expenses 240,100 Variable manufacturing overhead 5.75 Variable selling and admin expenses 3.90 Bob's Company sells the fishing lures for $25.00 During 2005, the company sold 80,000 lures and produced 95,000 lures. Instructions: Unit Cost Title Amount Title Amount Title Amount Title Amount Title Formula BOB'S COMPANY Income Statement For the Year Ended December 31, 2005 Absorption Costing Title Formula Title Formula Title Formula Title Amount Title Amount Formula Net Income (loss) Formula Managerial Accounting, 3 rd Edition, by Weygandt, Kieso, and Kimmel Solving Managerial Accounting Problems Using Microsoft Excel for Windows by Rex A Schildhouse Exercise E7-4, Bob's Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2005, the company incurred Bob's Company builds custom fishing lures for sporting goods stores....
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