Maga Company, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $ 173 Units in beginning inventory 0 Units produced 3,510 Units sold 3,240 Units in ending inventory 270 Variable cost per unit: Direct materials $ 47 Direct labor $ 56 Variable manufacturing overhead $ 12 Variable selling and administrative $ 14 Fixed costs: Fixed manufacturing overhead $ 108,810 Fixed selling and administrative $ 9,720 Requi
Maga Company, which has only one product, has provided the following data concerning its most recent month of operations:?? ? ? ?? Selling price?$?173 ?? ? ? ?? Units in beginning inventory? ?0 ?? Units produced? ?3,510 ?? Units sold? ?3,240 ?? Units in ending inventory? ?270 ?? ? ? ?? Variable cost per unit:? ? ?? Direct materials?$?47 ?? Direct labor?$?56 ?? Variable manufacturing overhead?$?12 ?? Variable selling and administrative?$?14 ?? Fixed costs:? ? ?? Fixed manufacturing overhead?$?108,810 ?? Fixed selling and administrative?$?9,720 ???? Required:?? a.?What is the unit product cost for the month under variable costing? (Do not round intermediate calculations. Omit the “$” sign in your response.)?? ?Cost per unit?? Variable costing?$ ???? b.?What is the unit product cost for the month under absorption costing? (Omit the “$” sign in your response.)?? ?Cost per unit?? Absorption costing?$ ???? c.?Prepare a contribution format income statement for the month using variable costing. (Input all amounts as positive values except losses which should be indicated by a minus sign. Omit the “$” sign in your response.)?? Variable Costing Income Statement?? ? ?$ ?? Variable expenses:? ? ?? ?$ ? ?? ? ? ?? ???? ? ? ?? Fixed expenses:? ? ?? ? ? ?? ? ? ?? ???? ? ?$ ?? ? ? ???? d.?Prepare an income statement for the month using absorption costing. (Input all amounts as positive values except losses which should be indicated by a minus sign. Omit the “$” sign in your response.)?? Absorption Costing Income Statement?? ? ?$ ?? ? ? ?? ? ??? ? ? ?? Selling and administrative expenses:? ? ?? ?$ ? ?? ? ? ?? ???? ? ?$ ?? ? ? ???? e.?Reconcile the variable costing and absorption costing net operating incomes for the month. (Omit the “$” sign in your response.)?? Reconciliation of Variable Costing and Absorption Costing Net Operating Incomes?? Variable costing net operating income?$ ?? :…
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