16 Jan Haas Company manufactures and sells one product. T
Haas Company manufactures and sells one product. The following information pertains each of the company’s first three years of operations:Variable costs per unit:Manufacturing:Direct materials $24Direct labor 20Variable manufacturing overhead 5Variable selling and administrative 1Fixed costs per year:Fixed manufacturing overhead 440,000Fixed selling and administrative expense 200,000During its first year of operations, Haas produced 40,000 units and sold 40,000 units. During its second year of operations, it produced 55,000 units and sold 30,000 units. In the third year, Haas produced 20,000 units and sold 45,000 units. The selling price of the company’s product is $6 per unit.Required:1. Compute the company’s break-even point in unit sales.2. Assume the company uses variable costing:a. Compute the unit product cost for Year 1, Year 2, and Year 3.b. Prepare an income statement for Year 1, Year 2, and Year 3.3. Assume the company uses absorption costing:a. Compute the unit product cost for year 1, Year 2, and Year 3.b. Prepare an income statement for Year 1, Year 2, and Year 3.
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