variable/absorption costing problem

Project Description:

a company projects their sales to remain constant at 20,000 units/month over the months of march, april and may. each unit is sold for $20. the company begins the month of march with no beginning inventory and uses fifo inventory cost-flow assumptions.

additional information:
direct materials/ unit - $3.50
direct labor/unit - $2.50
variable manufacturing costs/unit - $1.50
fixed manufacturing costs/month - $80,000
selling & admin costs/month - $60,000
production level, march - 20,000 units
production level, april - 15,000 units
production level, may, - 5,000 units

required:
a. prepare an income statement for march using absorption costing
b. prepare an income statement for april using variable costing
Skills Required:
Project Stats:

Price Type: Negotiable

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