1 answer

Zola Company manufactures and sells one product. The following information pertains to the company's first year...

Question:

Zola Company manufactures and sells one product. The following information pertains to the companys first year of operations

Zola Company manufactures and sells one product. The following information pertains to the company's first year of operations: $ 10 Variable cost per unit: Direct materials Fixed costs per year: Direct labor Fixed manufacturing overhead Fixed selling and administrative expenses $ 75,000 $ 150,000 $ 50,000 The company does not incur any variable manufacturing overhead costs or variable selling and administrative expenses. During its first year of operations, Zola produced 15,000 units and sold 12,000 units. The selling price of the company's product is $40.00 per unit. Required: 1. Assume the company uses super-variable costing: a. Compute the unit product cost for the year. b. Prepare an income statement for the year.

Answers

a
Unit product cost 10
b
Super­ Variable Costing Income Statement
Sales 480000 =12000*40
Variable cost of goods sold 120000 =12000*10
Contribution margin 360000
Fixed expenses:
Direct labor 75000
Fixed manufacturing overhead 150000
Fixed selling and administrative expenses 50000
275000
Net operating income 85000
.

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