Solution-Explaining the differences in income between the

Explaining the differences in income between the two costing

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Reference no: EM132550613

BAYMAX makes state-of-the-art beach hats. Each hat sells for P2,000 each. Data for 2019's operation is as follows:

Units:

Beginning Inventory 5

Production 80

Ending Inventory Variable Costs: 15

Direct Materials 24,000

Direct Labor 16,000

Factory Overhead 8,000

Selling and Administrative Fixed Costs: 4,000

Factory Overhead 20,000

Selling and Administrative 2,000

Required:

Question 1. Prepare income statements under both absorption costing and variable costing.

Question 2. Provide computations explaining the differences in income between the two costing methods.

Reference no: EM132550613

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Explaining the differences in income between the two costing

Reference no: EM132550613

Reference no: EM132550613

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