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Calculate the total profit or loss for the period

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Reference no: EM132548622

POV only makes and sells one product. the unit cost of which are,

direct material - $3

direct labour - $6

variable production overhead - $2

fixed production overhead - $4

variable selling cost - $5

The selling price of one unit is $21.

budgeted fixed overheads are based on budgeted production of 5000 units. Opening inventory was 1000 units and closing inventory was 4000 units. Sales during the period were 3000 units and actual fixed production overheads incurred were $25000.

Question (a) Calculate the total contribution earned during the period.

Question (b) Calculate the total profit or loss for the period under marginal costing.

Question (c) Calculate the total profit or loss for the period under absorption costing.

Question (d) Reconcile the profit calculated in parts (c) and (b).

Reference no: EM132548622

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