Dalton's Products manufactures a single product. Cost, sales, and production information for the company and its single
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Dalton's Products manufactures a single product. Cost, sales, and production information for the company and its single product is as follows:
• | Selling price per unit is $65 |
• | Variable manufacturing costs per unit manufactured (includes direct materials [DM], direct labor [DL], and variable MOH) $31 |
• | Variable operating expenses per unit sold $2 |
• | Fixed manufacturing overhead (MOH) in total for the year $208,000 |
• | Fixed operating expenses in total for the year $89,000 |
• | Units manufactured and sold for the year 13,000 units |
1. | Prepare an income statement for the upcoming year using variable costing. |
2. | Prepare an income statement for the upcoming year using absorption costing. |
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