During 2022, Flounder Manufacturing produced 54,000 units and sold 49,500 for $10 per unit. Variable manufacturing...

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During 2022, Flounder Manufacturing produced 54,000 units and sold 49,500 for $10 per unit. Variable manufacturing costs were $4 per unit. Annual fixed manufacturing overhead was $108,000 ($2 per unit). Variable selling and administrative costs were $1 per unit sold and fixed selling and administrative costs totaled $27,000. Prepare an absorption costing income statement. Sales Cost of Goods Sold Variable Selling and Administrative Expenses Fixed Manufacturing Overhead FLOUNDERMANUFACTURING Income Statement (Absorption Costing) Fixed Selling and Administrative Expenses Net Income/(Loss) During 2022, Flounder Manufacturing produced 54,000 units and sold 49,500 for $10 per unit. Variable manufacturing costs were $4 per unit. Annual fixed manufacturing overhead was $108,000 ($2 per unit). Variable selling and administrative costs were $1 per unit sold and fixed selling and administrative costs totaled $27,000. Prepare an absorption costing income statement. Sales Cost of Goods Sold Variable Selling and Administrative Expenses Fixed Manufacturing Overhead FLOUNDERMANUFACTURING Income Statement (Absorption Costing) Fixed Selling and Administrative Expenses Net Income/(Loss)

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ANSWER To prepare an absorption costing income statement we need to include all the manufacturing co... View the full answer