I dont know what the statements are.
Answer:
Income and all the costs and adjustments to these figure will go to Income Statement
These include Revenue, Selling, general, and administrative expenses, Adjustments to reconcile net income to net cash provided by operations and Income tax expense. Net income will be calculated by simply deducting costs from the sales amount.
The above mentioned will go to Income statement.
The remainder are part of balance sheet and in the balance sheet we record Assets, Liabilities and Equity transactions.
Following are Assets:
Ending cash balance, Total assets and Cash spent to acquire the building,.
Following are the Liabilities:
Current liabilities, Income tax payable and Long-term debt.
Following are the Equity items
Common stock and Ending balance of retained earnings.
These mentioned above relates to Balance sheet and will be reported there.
Answer:
Total cost per unit is $77
Explanation:
Fixed manufacturing overhead per unit = Total fixed manufacturing overhead ÷ Number of units
= $478,800 ÷ 34,200 = $14 per unit
Fixed selling and administrative expenses per unit = Total Fixed selling and administrative expenses ÷ Number of units
= $171,000 ÷ 34,200 = $5 per unit.
Total cost per unit = Direct material + Direct labor + Variable manufacturing overhead + Fixed manufacturing overhead + Variable selling expenses + Fixed selling expenses
Total cost per unit = $15 + $5 + $11 + $14 + $5 + $5 = $55 per unit.
Markup = 40% of total cost = $55 × 40% = $22
Therefore, total selling price per unit = Cost per unit + Markup
= $55 + $22 = $77 per unit.