Solution-Make a normal costing income statement for the

Make a normal costing income statement for the first year

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Reference no: EM132510116

During 2020, Rafael Corp. produced 38,560 units and sold 38,560 for $14 per unit. Suppose the accountant for Rafael Corp. uses normal costing and uses the budgeted volume of 48,200 units. Variable manufacturing costs were $6 per unit. Annual fixed manufacturing overhead was $77,120 ($2 per unit). Variable selling and administrative costs were $2 per unit sold, and fixed selling and administrative expenses were $19,280. The company expenses production volume variance to cost of goods sold in the accounting period in which it occurs.

Question A. What is the manufacturing cost?

Question B. Make a normal costing income statement for the first year of operation.

Reference no: EM132510116

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Make a normal costing income statement for the first year : Make a normal costing income statement for the first year of operation. During 2020, Rafael Corp. produced 38,560 units and sold 38,560 for $14 per unit

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Make a normal costing income statement for the first year

Reference no: EM132510116

Reference no: EM132510116

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