A company has the following costs for its single product, based on planned production and sales of 50,000 units in a period:
Prime cost per unit $5.20
Productions overheads (all fixed) 2.80.
Actual production and sales in the period were:
Production 46,000 units
Sales 45,600 units
Selling price $12:00
Additional point :
I) There was no finished stock at the beginning of the period .
Ii) variable costs per unit and total fixed costs in the period were as planned or budgeted .
Iii) variable non production overheads vary in total with the number of units sold.
A- prepare a profit statememt for the period using absorption costing technique
B- calculate gross profit and contribution margin per unit
C- calculate gross profit and contribution margin percentage
D- calculate net profit with shortcut approach under marginal costing technique .
Pls guys help me out with answers.
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