Paint More LLC

Ratings: 1 Star2 Stars3 Stars4 Stars5 Stars (5.00 out of 5) - Rate Now!
Loading...

Download Category:

Paint More LLC.zip - (140.21 KB)
[
Paint More LLC/Paint LLC.xlsx
Paint More LLC/Question.txt
Paint More LLC/Screenshot_1.png
]

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

Submit an Excel document which each tab labeled by item number in good form 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

Get a fresh solution of this question. Ask it now to our experts.
doubt

Ask Your Question

We have verified professionals who are ready to answer your question.

time

Save Time and Money

We choose experts who can quickly answer your question and that suit your budget.

download

Get Your Answer

Your satisfaction is 100% guaranteed. You can keep on asking questions until you get the answer you need.