Solution-Determine the unit cost of goods manufactured

Determine the unit cost of goods manufactured

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Reference no: EM13341470

Cost of goods manufactured, using variable costing and absorption costing

On June 30, the end of the first year of operations, Johnson Industries, Inc., manufactured 4,900 units and sold 4,200 units. The following income statement was prepared, based on the variable costing concept:

Johnson Industries, Inc.
Variable Costing Income Statement
For the Year Ended June 30, 2013

Sales Variable cost of goods sold:		$1,008,000
Variable cost of goods manufactured	$563,500
Less inventory, July 31	80,500
Variable cost of goods sold		483,000
Manufacturing margin		$525,000
Variable selling and administrative expenses		121,800
Contribution margin		$403,200
Fixed costs:
Fixed manufacturing costs	$259,700
Fixed selling and administrative expenses	79,800	339,500
Income from operations		$63,700

Determine the unit cost of goods manufactured, based on (a) the variable costing concept and (b) the absorption costing concept.

Reference no: EM13341470

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Determine the unit cost of goods manufactured

Reference no: EM13341470

Reference no: EM13341470

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