Prepare income statements for each year using both the Full Costing and the Variable Costing methods....
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Prepare income statements for each year using both the Full Costing and the Variable Costing methods. 2. Reconcile any difference in net income each year. last 3 years: Unit sales Unit sales price Production in units Beginning inventory-units Ending inventory-units Unit variable production costs Unit S and A costs Fixed overhead costs Fixed S and A costs 2016 10,000 $ 15 10,000 -0- -0- $8 $ 0.50 $30,000 $20,000 following activity during the 2017 8,000 $15 10,000 -0- 2,000 $8 $ 0.50 $30,000 $20,000 2018 12,000 $15 10,000 2,000 -0- $8 $ 0.50 $30,000 $20,000 Prepare income statements for each year using both the Full Costing and the Variable Costing methods. 2. Reconcile any difference in net income each year. last 3 years: Unit sales Unit sales price Production in units Beginning inventory-units Ending inventory-units Unit variable production costs Unit S and A costs Fixed overhead costs Fixed S and A costs 2016 10,000 $ 15 10,000 -0- -0- $8 $ 0.50 $30,000 $20,000 following activity during the 2017 8,000 $15 10,000 -0- 2,000 $8 $ 0.50 $30,000 $20,000 2018 12,000 $15 10,000 2,000 -0- $8 $ 0.50 $30,000 $20,000
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Answer rating: 100% (QA)
Absorption costing Variable costing Unit Variable Product Cost 8 8 Fixed Manufacturing Overhead 30000 10000 Units Produced 3 0 Total Unit Cost 11 8 Under absorption costing Fixed manufacturing overhea... View the full answer
Related Book For
Management Accounting
ISBN: 9781760421144
7th Edition
Authors: Kim Langfield Smith, Helen Thorne, David Alan Smith, Ronald W. Hilton
Posted Date:
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