During 2013, Life works Inc. Had $200,000 in sales commission, $120,000 in administrative costs of which $
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During 2013, Life works Inc. Had $200,000 in sales commission, $120,000 in administrative costs of which $ 20,000 fixed. Their selling price per unit was $40. direct materials was $4. direct labor $8. and variable overhead was $3. fixed overhead amounted to $600,000.
Prepare an income statement under absorption and variable costing. if :
1. Sold unit 60,000 and produced unit 60,000
2. Sold unit 40,000 and produced unit 60,000
3. Sold unit 80,000 and produced unit 60,000
Detailed the income statement.
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