Question: Data table January February March Unit data: Beginning inventory 0 150 75 Production 1,000 900 1,200 Sales 850 975 1,175 Variable costs: Manufacturing cost per

75 Production 1,000 900 1,200 Sales 850 975 1,175 Variable costs: Manufacturing

Data table January February March Unit data: Beginning inventory 0 150 75 Production 1,000 900 1,200 Sales 850 975 1,175 Variable costs: Manufacturing cost per unit produced 800 $ 800 $ 800 Operating (marketing) cost per unit sold 625 625 $ 625 Fixed costs: Manufacturing costs 360,000 $ 360,000 $ 360,000 Operating (marketing) costs 120,000 120,000 120,000 Note: The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 1,000.Speedy Inc. manufactures and sells 50-inch television sets and uses standard costing. Actual data relating to January. Febmary, and March are as follows. g (Click to View the data} The selling price per unit is $3.300. Required 1. Present statements of comprehensive income for January. Febmary, and March under (a) variable costing and (b) absorption costing. 2. Explain the difference in operating income for January. February. and March under variable costing and absorption costing. Requirement 1:. Present statements of comprehensive income for January, February, and March under variable costing. Complete the top half of the statement of comprehensive income fer each month rst. and then complete the bottom portion. MU HE M NH mm W UH MU mm W W HM Requirement 1b. Present statements of comprehensive income for January, February, and March under absorption costing. Complete the top half of the statement of comprehensive income for each month first, and then complete the bottom portion. (Enter a "0" for any zero balance accounts. If an account does not have a variance, do not select a label.) January February March Less:Requirement 2. Prepare a numerical reconciliation and explanation of the difference between operating income for each month under variable costing and absorption costing. Begin by determining the formula that will highlight the difference between the operating income under each method. Then. complete the equation for each month. {Enter an amount in each input cell. Enter a "D" for any zero balance accounts. Abbreviations used: Jan = January. Feb = February. Mar= March. beg. = beginning, end. =ending. mfg = manufacturing, Var. = variable.) Absorptioncosting Variable-costing operating income operating income = Jan = _ Feb = Mar = _ The difference between absorption and valia ble costing is due solely to moving I into inventories as inventories Y and out of inventories as theyr V

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