Solution-Calculate profit and the value of ending inventory

Calculate profit and the value of ending inventory

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Reference no: EM131371165

Assignment

XM Outfitters produces Kayaks. Use the attachment below which contains information for the first three years of business and use it to present your calculations and answers to the questions below:

	2014	2015	2016	Total
Units Sold	5,000	5,000	5,000	15,000
Units Produced	5,000	6,000	4,000	15,000
Fixed Production Costs	$50,000	$50,000	$50,000
Variable Production Costs per Unit	$75	$75	$75
Selling Price	$225	$225	$225
Fixed Selling and Administrative Expenses	$5,000	$5,000	$5,000

• Calculate profit and the value of ending inventory for each year using full costing.
• Explain why profit fluctuates from year to year even though the units sold and selling price remains the same.
• Calculate profit and the value of ending inventory for each year using variable costing.
• Explain why when using variable costing profit does not fluctuate from year to year.

Reference no: EM131371165

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Calculate profit and the value of ending inventory

Reference no: EM131371165

Reference no: EM131371165

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