Big Fir Industries reports the following information for the 2022 operating year. The company only experiences...

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Big Fir Industries reports the following information for the 2022 operating year. The company only experiences production volume variance and has a December 31st year end. Current year production costs: Actual - Variable manufacturing cost per unit Actual - Variable marketing cost per unit Actual - Fixed manufacturing cost Actual - Fixed marketing cost Allocated - Fixed manufacturing cost per unit $90 Beginning finished goods inventory (units) Planned production (units) Actual production (units) Sold units (selling price is $350 per unit) $30 $10 $162,000 $30,000 250 1,800 2,300 2,100 Required 1. Prepare, in good format, the income statement using variable costing and absorption costing. 2. Reconcile the difference in income from requirement 1. Big Fir Industries reports the following information for the 2022 operating year. The company only experiences production volume variance and has a December 31st year end. Current year production costs: Actual - Variable manufacturing cost per unit Actual - Variable marketing cost per unit Actual - Fixed manufacturing cost Actual - Fixed marketing cost Allocated - Fixed manufacturing cost per unit $90 Beginning finished goods inventory (units) Planned production (units) Actual production (units) Sold units (selling price is $350 per unit) $30 $10 $162,000 $30,000 250 1,800 2,300 2,100 Required 1. Prepare, in good format, the income statement using variable costing and absorption costing. 2. Reconcile the difference in income from requirement 1.

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Sure I can help you with that Heres the requested information 1 Income Statement using Variable Cost... View the full answer