peachtree company manufactures peach jam. because of bad weather

Project Description:

peachtree company manufactures peach jam. because of bad weather, its peach crop was small. the following data have been gathered for the summer quarter of 2009:beginning inventory (cases) ................................................ 0cases produced ................................................…………… 10,000cases sold ................................................…………………. 9,400sales price per case ................................................……….. $60direct materials per case ...................................................... $8direct labor per case ............................................................ $9variable manufacturing overhead per case ………………. $3total fixed manufacturing overhead………………………. $400,000variable selling and administrative cost per case ………… $2fixed selling and administrative cost …………………….. $48,000requireda. prepare a functional income statement for the quarter using absorption costing.b. prepare a contribution income statement for the quarter using variable costing.c. what is the value of ending inventory under absorption costing?d. what is the value of ending inventory under variable costing?e. explain the difference in ending inventory under absorption costing and variable costing.
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