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Novak Centre Inc. sells Frisbees. In 2022, the company produced 3,070,000 units but sold only 2,590,000 units. The unit selling price was $1.50 per Frisbee. The company had no beginning inventory. Costs and expenses for the year ended December 31, 2022 were as follows: Variable costs per unit: Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative expenses Annual fixed costs and expenses: Manufacturing overhead Selling and administrative expenses $0.46 0.09 0.21 0.23 $368,400 340,000

Novak Centre Inc. sells Frisbees. In 2022, the company produced 3,070,000 units but sold only 2,590,000 units. The unit selling price was $1.50 per Frisbee. The company had no beginning inventory. Costs and expenses for the year ended December 31, 2022 were as follows: Variable costs per unit: Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative expenses Annual fixed costs and expenses: Manufacturing overhead Selling and administrative expenses $0.46 0.09 0.21 0.23 $368,400 340,000

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter3: Cost Behavior
Section: Chapter Questions
Problem 30E: Natur-Gro, Inc., manufactures composters. Based on past experience, Natur-Gro has found that its...
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Prapare an Income Statement Using absorption costing. 

Prapare an Income Statement Using variable costing. 

 

Novak Centre Inc. sells Frisbees. In 2022, the company produced 3,070,000 units but sold only 2,590,000 units. The unit selling price was $1.50 per Frisbee. The company had no beginning inventory. Costs and expenses for the year ended December 31, 2022 were as follows: Variable costs per unit: Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative expenses Annual fixed costs and expenses: Manufacturing overhead Selling and administrative expenses $0.46 0.09 0.21 0.23 $368,400 340,000
Transcribed Image Text:Novak Centre Inc. sells Frisbees. In 2022, the company produced 3,070,000 units but sold only 2,590,000 units. The unit selling price was $1.50 per Frisbee. The company had no beginning inventory. Costs and expenses for the year ended December 31, 2022 were as follows: Variable costs per unit: Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative expenses Annual fixed costs and expenses: Manufacturing overhead Selling and administrative expenses $0.46 0.09 0.21 0.23 $368,400 340,000
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