Reference no: EM132561948
Rocket Footwear Company produces and sells snowboots and the information about costs, expenses and inventory for 2015 and 2016 is as seen as below:
2015 2016
Units in Beginning Inventory 0
Units produced during the year 15.000 9.000
Units sold during the year 12.000 12.000
Selling Price (per unit) $75
Manufacturing costs:
Variable per unit produced
Direct materials $20
Direct labor $5
Variable manufacturing overhead $7
Fixed manufacturing overhead per year $135.000
Selling and administrative expenses:
Variable per unit sold $2
Fixed per year $60.000
Required:
Question 1. If the company uses absorption costing method, what will be the unit product cost in each year? income statement for each year
Question 2. If the company uses variable costing method, what will be the unit product cost in each year. income statement for each year.
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