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Question - BigScreen Corporation manufactures and sells 60-inch television sets. The company follows a practice of allocating fixed manufacturing cost over an achievable production capacity of 2,500 units. Data related to January, February, and March of 2020 are:
January
February
March
Unit data
Beginning inventory
0
600
Production
2,000
1,600
2,500
Sales
1,400
3,000
Variable-cost data
Manufacturing costs per unit
$1,800
Marketing costs per unit
1,200
Fixed-cost data
Manufacturing costs
$800,000
Marketing costs
280,000
The selling price per unit is $6,500.
Required -
a. What is the Profit Margin for each month under 1) absorption costing and 2) variable costing? Provide a reconciliation between the two.
b. What is the ending inventory under 1) absorption costing and 2) variable costing?
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