Answer Happy

The S&S Corporation produces and sells one product. The following data refer to the year just completed: Beginning Inventory Units produced...... Units sold....... Sales price per unit.... Variable selling and administrative expenses per unit Fixed Selling and administrative expenses (Total) Manufacturing Costs: Direct materials cost per unit...... Direct labor cost per unit....... Variable manufacturing overhead cost per uni................ Fixed manufacturing overhead (Total)... 0 units 20,000 12,500 $450 ..$ $ 50 $500,000 150 95 40 ..$280,000 Required: a. What is the unit product cost for the month under variable costing? b. What is the unit product cost for the month under absorption costing? c. Prepare a contribution format income statement for the year using variable costing. d. Prepare an income statement for the year using absorption costing.