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Jasper Enterprises had the following cost and production information for April: Units Produced 20,000 Units Sold...

Jasper Enterprises had the following cost and production information for April:

Units Produced 20,000
Units Sold 17,000
Unit Sales Price $     200.00
Manufacturing Cost Per Unit
Direct Material $      50.00
Direct Labor $      25.00
Variable Manufacturing Overhead $      10.00
Fixed manufacturing overhead ($400,000/20,000) = $      20.00
Full Manufacturing Cost Per Unit $     105.00
Non manufacturing Costs
Variable Selling Expenses $80,000.00
Fixed General and Administrative Costs $75,000.00


What is Jasper Enterprise's income under variable costing?

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Answer #1
Unit Product cost under Variable costing:
Material 50
Labour 25
Variable overheads 10
Unit Product cost under Variable costing: 85
Income Statement:
Slaes revneue (17000*200) 3400000
Less: variable cost
Cost of goods sold (17000*85) 1445000
Selling admin expenses 80000
Contribution margin 1875000
Less: Fixed cost
Manufacturing oh 400000
Selling admin expenses 75000
Net Incomee 1400000
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