Case 8-42 Student:_________________________________
Class:___________________________________
DATA INPUT Year 1 Year 2
Sales Price * *
Production Costs:
Variable Manufacturing Costs * *
Fixed Manufacturing Overhead * *
Selling & Administrative Costs
Variable * *
Fixed * *
Actual Production (containers) * *
Units Sold * *
1
Year 1 Year 2
Sales Revenue * *
Less: Cost of Goods Sold:
Beginning finished-goods inventory *
Cost of goods manufactured * *
Cost of goods available for sale * *
Ending finished-goods inventory *
Cost of Goods Sold * *
Gross Margin * *
Less: Selling and Administrative Expenses * *
Operating Income * *
2
Year 1 Year 2
Sales Revenue * *
Less: Cost of Goods Sold
Beginning finished-goods inventory –$ *
Cost of goods manufactured * *
Cost of goods available for sale * *
Ending finished-goods inventory *
Cost of Goods Sold * *
Variable Selling and Administrative Costs * *
Total Variable Costs * *
Contribution Margin * *
Less: * *
Fixed Manufacturing Overhead
Fixed Selling and Adminstrative Costs * *
Total Fixed Costs * *
Operating Income * *
Difference in
Change in Actual Fixed Difference In Absorption and
Year inventory (units) Overhead Rate Overhead Expensed Variable Income
1 * * * *
2 * * * *
3. Reconciliation of reported NI under absorption and variable costing
VARIABLE-COSTING INCOME STATEMENT
FOR THE YEAR ENDED
HURON CHALK COMPANY
ABSORPTION-COSTING INCOME STATEMENT
FOR THE YEAR ENDED
HURON CHALK COMPANY
Case 8-42
Student Name:_________________________________
Class:___________________________________
1.
HURON CHALK COMPANY
ABSORPTION-COSTING INCOME STATEMENTS
FOR THE YEAR ENDED
Year 1 Year 2
Sales Revenue
Less: Cost of Goods Sold:
Beginning finished-goods inventory
Cost of goods manufactured
Cost of goods available for sale
Ending finished-goods inventory
Cost of Goods Sold
Gross Margin
Less: Selling and Administrative Expenses
Operating Income
2.
HURON CHALK COMPANY
VARIABLE-COSTING INCOME STATEMENTS
FOR THE YEAR ENDED
Year 1 Year 2
Sales Revenue
Less: Cost of Goods Sold
Beginning finished-goods inventory
Cost of goods manufactured
Cost of goods available for sale
Ending finished-goods inventory
Cost of Goods Sold
Variable Selling and Administrative Costs
Total Variable Costs
Contribution Margin
Less:
Fixed Manufacturing Overhead
Fixed Selling and Adminstrative Costs
Total Fixed Costs
Operating Income
3. Reconciliation of reported operating income under absorption and variable costing.
Difference in
Change in Actual Fixed Difference In Fixed Absorption and
Year inventory (units) Overhead Rate Overhead Expensed Variable Income
1
2
Case 8-42
Student Name:_________________________________
Instructor
Class:___________________________________
McGraw-Hill Irwin
DATA INPUT Year 1 Year 2
Sales Price 25$ 25$
1.
Year 1 Year 2
Sales Revenue 62,500$ 62,500$
Less: Cost of Goods Sold:
Beginning finished-goods inventory –$ 5,250$
2.
Year 1 Year 2
Sales Revenue 62,500$ 62,500$
Less: Cost of Goods Sold
Beginning finished-goods inventory –$ 1,750$
FOR THE YEAR ENDED
HURON CHALK COMPANY
ABSORPTION-COSTING INCOME STATEMENTS
FOR THE YEAR ENDED
HURON CHALK COMPANY
VARIABLE-COSTING INCOME STATEMENTS