Complete marginal and absorption statements

Reference no: EM132462535

Problem 1: A manufacturing company produces a single product. During the year ended 31 December 2009, 10,000 units were produced and sold. There was no opening inventory. The costs of manufacturing during the year were shown as follows:

Direct Materials                                                  600,000
Direct Labour 200,000
Variable Manufacturing Overheads                           40,000
Fixed Manufacturing Overheads                             300,000
Variable Selling Overheads                                    187,500
Fixed Selling and Administrative Overheads    250,000

All the 10,000 units were sold at $200 each.
Costs $

Required:

Question i) Complete marginal and absorption statements.

Question ii) Use the same data in part i) above however there was closing inventory of 2,000 units, i.e.only 8,000 units were sold during the year. Complete marginal and absorption statements

Reference no: EM132462535

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