Question: ABSORPTION / VARIABLE COSTING G H W N Super Products, Inc. uses a standard costing system. For June and July the following costs were budgeted

ABSORPTION / VARIABLE COSTING G H W N Super Products, Inc. uses a standard costing system. For June and July the following costs were budgeted and incurred: Manufacturing Costs: 4 Variable costs per unit: 5 Direct Material $30 6 Direct Labour Saving your work for grading: $42 Remember to press the yellow button to save your work. Variable Overhead $6 A link to your spreadsheet will be placed in the clipboard. 8 Click the Moodle tab and follow the instructions to paste your link for grading. Fixed Overhead Costs: (Monthly) $300,000 If you make changes to your spreadsheet, click the yellow button to save. 0 Selling & Admin Costs: There is no need to paste another link to your spreadsheet. Variable Costs Per Unit Sold $ 22 Fixed Monthly $ 175,000 The budgeted denominator (planned) level used to determine the fixed overhead allocation rate was 5,000 units for each month. For July, the following information was available: Selling price per unit $300 Inventory July 1 1,000 Units Units produced in July 4,000 Units nits sold in July 3,200 Units Assume there are no price, efficiency, or rate (spending) variances. here are 2 parts to this question below. Prepare a statement of comprehensive income for the month of July using absorption costing. (8 marks)

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