ACCT 346 Weekly Assignment Week 4
ACCT 346 Weekly Assignment Week 4
ACCT 346 Weekly Assignment Week 4
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<strong>ACCT</strong> <strong>346</strong> <strong><strong>Week</strong>ly</strong> <strong>Assignment</strong> <strong>Week</strong> 4<br />
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Directions: Your assignment this week is to answer the question below which has four parts.<br />
Please show your work for full credit and use the boxes<br />
provided. Please add more rows or columns to the box if needed.<br />
1. MountainAir Company has the following selected data for the past year:<br />
Units sold during year<br />
30,000<br />
Units produced during year<br />
45,000<br />
Units in ending inventory<br />
15,000<br />
Variable manufacturing cost per unit<br />
Fixed manufacturing overhead (in total)<br />
Selling price per unit<br />
Variable selling and administrative expense per unit<br />
Fixed selling and administrative expenses (in total)<br />
$4.50<br />
$20,250<br />
$12.00<br />
$1.00<br />
$4,000<br />
There were no units in beginning inventory.<br />
Required:<br />
1a. Prepare an income statement for last year using absorption costing.<br />
1b. Calculate the value of the ending inventory using absorption costing.
1c. Prepare an income statement for last year using variable costing.<br />
1d. Calculate the value of the ending inventory using variable costing.