St. McStanky Beer Co. Income Statement For the Year Ending on December 31 (Millions of dollars) Year 2 Year 1
Net Sales 6,350 5,000
Operating costs except depreciation and amortization 1,365 1,268
Depreciation and amortization 318 200
Total Operating Costs 1,683 1,468
Operating Income (or EBIT) 4,667 3,532

Less: Interest 467 371
Earnings before taxes (EBT) 4,200 3,161
Less: Taxes (40%) 1,680 1,264
Net Income 2,520 1,897

Required:
Calculate the profitability ratios of St. McStanky Beer Co.

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Lynch company manufactures and sells a single product. the following costs were incurred during the company’s first year of operations: variable costs per unit: manufacturing: direct materials $ 12 direct labor $ 6 variable manufacturing overhead $ 1 variable selling and administrative $ 1 fixed costs per year: fixed manufacturing overhead $ 308,000 fixed selling and administrative $ 218,000 during the year, the company produced 28,000 units and sold 15,000 units. the selling price of the company’s product is $56 per unit. required: 1. assume that the company uses absorption costing: a. compute the unit product cost. b. prepare an income statement for the year. 2. assume that the company uses variable costing: a. compute the unit product cost. b. prepare an income statement for the year.