Question: Prepare a variable costing income statement for January. Prepare an absorption costing income statement for December. Invento Beginning Inventory Garlands Produced Garlands Sold Sales Revenue

Invento Beginning Inventory Garlands Produced Garlands Sold Sales Revenue Selling Price (per

Garland) Cost Direct Materials Cost (per Garland) Direct Labor Cost (per Garland)

Prepare a variable costing income statement for January.

Prepare an absorption costing income statement for December.

Invento Beginning Inventory Garlands Produced Garlands Sold Sales Revenue Selling Price (per Garland) Cost Direct Materials Cost (per Garland) Direct Labor Cost (per Garland) Variable Overhead Cost (per Garland) Fixed Overhead Cost (Total) Variable Selling & Administrative Cost (per Garland) Fixed Selling & Administrative Cost (Total) 42,000 35,500 22.00 3.25 1.40 2.50 94,500.00 1.25 71,000.00

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