Prepare an income statement using absorption costing

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Reference no: EM131809951

From the following information prepare an income statement using

1) absorption costing

and

2) variable costing

There are NO beginning inventories of any kind and no Materials or WIP ending inventories

ales	12,000 units		Sales Price $20
Production	14,000 units
Direct materials	$ 3 per unit
Direct labor	$5 per unit
Variable Overhead	$2 per unit
Fixed Overhead	$35,000 per month
Variable commission		5% of sales
Fixed G & A	$8,000
Fixed Selling	$10,000

Reference no: EM131809951

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