Prepare income statements for tv plus in january

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Reference no: EM132465513

Question 1. Prepare income statements for TV Plus in January. February. and March 2017 under throughput costing.

Question 2. Contrast the results in requirement 1 with the operating income results under variable costing and absorption costing.

Question 3. Give one motivation for TV Plus to adopt throughput costing.

 

January

February

March

Direct material cost per unit

$           325

$          325

$        325

Direct manufacturing labor cost per unit

75

75

75

Manufacturing over

 

January 2017                                   February 2017

March 2017

Revenues

Cost of goods sold:

 

3.220.000

$ 3.430.000

 

3.640.000

Beginning inventory

0

$                         106,800

 

$      106,800

 

Variable manufacturing costs

875,000

857,500

 

892,500

 

Allocated fixed manufacturing costs

460,000

450,800

 

469,200

 

Cost of goods available for sale

1.335.000

1.415.100

 

1,468.500

 

Less:      Ending inventory

(106,800)

(106,800)

 

(80,100)

 

Adj. for production-volume variance

0

9.200 u

 

(9,200) F

 

Cost of goods sold

 

1.228.200

1.317.500

 

1.379.200

Gross margin

 

1,991.800

2,112,500

 

2.260,800

Operating costs:

 

 

 

 

 

Variable operating costs

805,000

857,500

 

910,000

 

Fixed operating costs

110.000

 

110,000

 

110.000

 

Total operating costs

 

915,000

967.500

 

1.020 000

Operating income

 

1.076.800

1.145.000

 

1.240.800

 

 

 

 

head cost per unit

300

300

300

 

$           700

$          700

$        700

Reference no: EM132465513

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