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Prepare income statements using the variable costing

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Reference no: EM132640287

Problem - Andrea Cookie Company produced 5,000 cases of cookies this year. It sold 4,000 cases for $18 each. There were no beginning inventories. Variable manufacturing costs were $30,000 and fixed manufacturing expenses were $20,000. Selling and administrative expenses were $5,000, all fixed.

Required -

a. Prepare income statements using the variable costing and absorption costing.

b. Reconcile the net income under absorption and variable costing.

Reference no: EM132640287

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