Maga Company, which has only one product, has provided the following data concer

Question

Maga Company, which has only one product, has provided the following data concerning its most recent month of operations:

What is the unit product cost for the month under variable costing? (Do not round intermediate calculations. Omit the "$" sign in your response.)

What is the unit product cost for the month under absorption costing? (Omit the "$" sign in your response.)

Prepare a contribution format income statement for the month using variable costing. (Input all amounts as positive values except losses which should be indicated by a minus sign. Omit the "$" sign in your response.)

Prepare an income statement for the month using absorption costing. (Input all amounts as positive values except losses which should be indicated by a minus sign. Omit the "$" sign in your response.

Reconcile the variable costing and absorption costing net operating incomes for the month. (Omit the "$" sign in your response.)

Maga Company, which has only one product, has provided the following data concerning its most recent month of operations:

Explanation / Answer

a) Computation of unit product cost under variable costing method: Direct material $52 Direct labor 58 variable manufacturing overhead 15 Variable Selling and administrative 17 Fixed selling and administrative ($8,430

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