What am i missing please help! The Dean n produces and sells a single product. T

Question

What am i missing please help!

The Dean n produces and sells a single product. The following data refer to the year just completed Beginning inventory Units produced Units sold 32,800 29,000 nit 452 Selling price per u Sel S ling and administrative Variable per unit Fixed (total) expenses 23 S 406,000 Direct materials cost per unit Direct labor cost per unit Variable manufacturing overhead cost per unit S Fixed manufacturing overhead (total) S 228 51 35 S 557,600 Assume that direct labor is a variable cost. a. Compute the cost of a single unit of product under both the absorption costing and variable costing Absorption costingS Variable costing Cost per unit 341 324 b. Prepare an income statement for the year using absorption costing Costing Income Statement Sales Cost of goods sold Gross margin Se 13,108,000 9,889,000 3,219,000 887,000 lling and administrative Net operating income 2,552,000

Explanation / Answer

Please find the income statements

Dean Corporation Income Statement (Variable costing) Sales ($452*29,000) $ 13,108,000 Variable cost of goods sold ($324)*29,000) $ 9,396,000 Variable selling administrative expenses (29,000*$23) $     667,000 Total variable expenses $ 10,063,000 Contribution margin $    3,045,000 Fixed Expenses Fixed Manufacturing overhead $     557,600 Fixed selling and administrative expenses $     406,000 Total Fixed Expenses $        963,600 net operating income (Loss) $    2,081,400

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