Data table

Variable costs per jet bridge:

Materials

Labor

Manufacturing Overhead

Selling

General and administrative

Fixed costs for the first $3$ quarters of $2020$:

Manufacturing Overhead

Selling

General and administrative

$ $954,000$ allocated based on budgeted production

$ $500,000$

$ $685,000$ Fairchild produces jet bridges for many domestic and international airports. Cost information for Fairchild's jet bridges is as follows:

$($Click the icon to view the cost information.$)$

Additional information for the first three quarters of $2020$ for Fairchild are shown below:

$($Click the icon to view the additional information for the first three quarters.$)$

Fairchild's controller, Paul, wishes to analyze the difference in the income statements between throughput costing, absorption costing, and variable costing for the first $3$ quarters of $2020.$ Assume no beginning inventory.

Read the requirements. Requirement $1.$ Prepare an absorption costing income statement. $($Complete all input fields. Enter a $0$ for any zero balance accounts. Use a minu

$\backslash$table$[[$Absorption Costing:,Quarter $1,$Quarter $2,$Quarter $3],[$Revenues$,2,205,000,2,310,000,2,205,000],[$Cost of goods sold:$],[$Beginning inventory,$0,,],[$Variable manufacturing costs$],[$Allocated fixed manufacturing costs$],[$Cost of goods available for sale$],[$Deduct ending inventory$],[$Cost of goods sold$],[$Gross margin$],[$Variable SG&A costs$],[$Fixed SG&A costs$],[$Net income $($loss$),,,]]$

Requirement $2.$ Prepare a variable costing income statement. $($Complete all input fields. Enter a $0$ for any zero balance accounts. Use a minus sig

$\backslash$table$[[$Variable Costing:,Quarter $1,$Quarter $2,$Quarter $3],[$Revenues$,,,],[$Variable cost of goods sold:,,,$],[$Beginning inventory,,,$],[$Variable manufacturing costs,,,$],[$Cost of goods available for sale,,,$],[$Deduct ending inventory,,,$],[$Variable cost of goods sold,,,$],[$Variable SG&A costs,,,$],[$Contribution margin,,,$],[$Fixed manufacturing costs,,,$],[$Fixed SG&A costs,,,$],[$Net income $($loss$),,,]]$

Requirement $3.$ Prepare a throughput costing income statement. $($Complete all input fields. Enter a $0$ for any zero balance accounts. Use a minus

$\backslash$table$[[$Throughput Costing:,Quarter $1,$Quarter $2,$Quarter $3],[$Revenues$,,,],[$Direct materials cost of goods sold:,,,$],[$Beginning inventory,,,$],[$Direct materials,,,$],[$Cost of goods available for sale,,,$]]$