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The following information relates to vice versa ventures

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Reference no: EM13594649

The following information relates to Vice Versa Ventures for calendar year 20XX, the company's first year of operations:

  • Units produced 20,000
  • Units sold 17,000
  • Selling price per unit $35
  • Direct material per unit $5
  • Direct labor per unit $5
  • Variable manufacturing overhead per unit $2
  • Variable selling cost per unit $3
  • Annual fixed manufacturing overhead $160,000
  • Annual fixed selling and administrative expense $80,000

(a) Prepare an income statement using full costing.
(b) Prepare an income statement using variable costing.

Reference no: EM13594649

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