Answer Happy

11 Part 2 of 4 1 points Required information [The following information applies to the questions displayed below] Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 44,000 units and sold 36,000 units at a price of $140 per unit. Manufacturing costs $ 60 Direct materials per unit Direct labor per unit Variable overhead per unit Fixed overhead for the year $ 22 8 eBook $ 528,000 selling and administrative costs S 11 Variable selling and administrative cost per unit Fixed selling and administrative cost per year $ 105,000 Hint Print 1b. Assume the company uses absorption costing. Prepare its income statement for the year under absorption costing. COOL SKY References Absorption Costing Income Statement Sales $ 4,760,000 Less Cost of goods sold Net income (los)
13 Part 4 of 4 points eBook Hint Print References Required information [The following information applies to the questions displayed below] Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 44,000 units and sold 36,000 units at a price of $140 per unit. Manufacturing costs Direct materials per unit Direct labor per unit Variable overhead per unit $ 22 $ 528,000 Fixed overhead for the year Selling and administrative costs Variable selling and administrative cost per unit $ 11 Fixed selling and administrative cost per year $ 105,000 2b. Assume the company uses variable costing. Prepare its income statement for the year under variable costing COOL SKY Variable Costing Income Statement Sales Plus: Variable costs Net Income (loss)