Reference no: EM132967650
Question - Johnson, Inc has collected the following data for November (there are no beginning inventories):
Data Table
Units produced and sold 350 Units
Sales price $350 per unit
Direct materials 45 per unit
Direct labor 58 per unit
Variable manufacturing overhead 20 per unit
Fixed manufacturing overhead 5,775 per month
Variable selling and administrative costs 25 per unit
Fixed selling and administrative costs 4,450 per unit
Required -
1. Using variable costing, calculate the unit product cost?
2. Prepare an income statement using the contribution margin format?
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Calculate the unit product cost
: Variable manufacturing overhead 20 per unit and Fixed manufacturing overhead 5,775 per month. Using variable costing, calculate the unit product cost
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Prepare an income statement for the subsidiary in pounds
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Prepare the journal entries to record each of the partners
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