High Country, Inc., produces and sells many recreational products. The company has just opened a new plant to produce a folding camp cot that will be marketed throughout the United States. The following cost and revenue data relate to May, the first month of the plantâs operation:
Beginning inventory 0
Units produced 10,000
Units sold 8,000
Selling price per unit $75
Selling and administrative expenses:
Variable per unit $6
Fixed per month $ 200,000
Manufacturing costs:
Direct materials cost per unit $20
Direct labor cost per unit $8
Variable manufacturing overhead cost per unit $2
Fixed manufacturing overhead cost per month $ 100,000
Management is anxious to see how profitable the new camp cot will be and has asked that an income statement be prepared for May.
Required:1. Assume that the company uses absorption costing.
a. Determine the unit product cost.
b. Prepare an income statement for May

12. nelson corporation, which has only one product, has provided the following data concerning its most recent month of operations: selling price $ 115 units in beginning inventory 380 units produced 5,900 units sold 6,070 units in ending inventory 210 variable costs per unit: direct materials $ 46 direct labor $ 27 variable manufacturing overhead $ 3 variable selling and administrative $ 12 fixed costs: fixed manufacturing overhead $ 112,100 fixed selling and administrative $ 36,420 the company produces the same number of units every month, although the sales in units vary from month to month. the company's variable costs per unit and total fixed costs have been constant from month to month. a. prepare a contribution format income statement for the month using variable costing. unit product cost under variable costing direct materials direct labor variable manufacturing overhead variable costing unit product cost (formula)

Companies hd and ld are both profitable, and they have the same total assets (ta), total invested capital, sales (s), return on assets (roa), and profit margin (pm). both firms finance using only debt and common equity. however, company hd has the higher total debt to total capital ratio. which of the following statements is correct? a) company hd has a higher assets turnover than company ld. b) company hd has a higher return on equity than company ld. c) none of the other statements are correct because the information provided on the question is not enough. d) company hd has lower total assets turnover than company ld. e) company hd has a lower operating income (ebit) than company ld

If the family’s net monthly income is 7,800 what percent of the income is spent on food clothing and housing?