Complete the variable costing income statement for 2010

Reference no: EM13597299

Bob's Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2010, the company incurred the following costs.

Variable Cost per Unit
Direct material $7.50
Direct labor $2.45
Variable manufacturing overhead $5.75
Variable selling and administrative expense $3.90

Fixed Costs per Year
Fixed manufacturing overhead $234,650
Fixed selling and administrative expense $240,100

Bob's Company sells the fishing lures for $25. During 2010, the company sold 80,000 lures and produced 95,000 lures.
Assuming the company uses variable costing, calculate Bob's manufacturing cost per unit for 2010. (Round answer to 2 decimal places, e.g. 10.50.)

Complete the variable costing income statement for 2010. (List expenses from largest to smallest amount, e.g. 10, 5, 2. If a net loss record amount use either a negative sign preceding the number, e.g. -45 or parenthesis, e.g. (45).)

Reference no: EM13597299

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