Question: Annual production and sales data for Final Co is given below. Required: a. Prepare an income statement using the absorption costing method. b. Prepare an

Annual production and sales data for Final Co is given below.

Annual production and sales data for Final Co is given below. Required: a. Prepare an income statement using the absorption costing method. b. Prepare an income statement using the variable costing method. c. Compare the net income amounts you found. If there is a difference, reconcile the difference and explain why. d. Calculate contribution margin percentage. e. Calculate total fixed cost percentage. f. Calculate gross margin percentage. Annual production and sales data for Final Co is given below. Required: a. Prepare an income statement using the absorption costing method. b. Prepare an income statement using the variable costing method. c. Compare the net income amounts you found. If there is a difference, reconcile the difference and explain why. d. Calculate contribution margin percentage. e. Calculate total fixed cost percentage. f. Calculate gross margin percentage

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