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Prepare a variable costing income statement for 2017

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Siren Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2017, the company incurred the following costs.

Variable Costs per Unit

    

Direct materials

  

$7.88

Direct labor

  

$3.62

Variable manufacturing overhead

  

$6.09

Variable selling and administrative expenses

  

$4.10

 

    

Fixed Costs per Year

    

Fixed manufacturing overhead

  

$244,590

Fixed selling and administrative expenses

  

$220,605

Siren Company sells the fishing lures for $26.25. During 2017, the company sold 81,000 lures and produced 93,000 lures.

Assuming the company uses variable costing, calculate Siren's manufacturing cost per unit for 2017.

prepare a variable costing income statement for 2017

Reference no: EM131800016

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