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Accounting help needed (due tonight)




Cost of Production;Paint More, LLC, has organized a new division to manufacture and sell specialty paint. The division?s monthly costs are shown below;Manufacturing costs;Variable costs per unit;Direct materials;$12;Variable manufacturing overhead;$1;Fixed manufacturing overhead costs (total);$100,000;Selling and administrative costs;Variable;7% of sales;Fixed (total);$31,000;Because the production is highly automated, the company includes its labor costs in its fixed manufacturing overhead. The gallons of paint sell for $68 each. During September, the first month of operations, the following activity was recorded;Units produced 5,000;Units sold 4,000;Instructions;Submit an Excel document with each tab labeled by item number that demonstrates the following;Compute the unit product cost under;Absorption costing;Variable costing;Prepare an absorption costing income statement for September;Prepare a contribution format income statement for September using variable costing


Paper#74224 | Written in 18-Jul-2015

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