Tech helpers company prepares a variable costing income statement for internal management and an absorption costing income statement for its bank. Tech helpers provides a personal computer maintenance service that is sold for $$100$ the variable and fixed cost data or as follows:

Direct Labor $$25\mathrm{.}00$

Overhead Variable cost per unit $$5\mathrm{.}00$

Fixed Cost $($annually$)$ $$240,000$

Marketing, general, and administrative Variable Cost $($per service contract completed$)$ $$5\mathrm{.}00$

Fixed cost $($annual cost$)$ $$20,000$

during the year $4500$ service contracts were started in $5000$ service contracts were completed at the beginning of the year tech helpers had $500$ service contracts and process at per unit cost of nine dollars and beginning working in processing inventory.

a$.$ calculate reported income for management. Do not use negative signs with any answers.

b$.$ Calculate reported income for the bank. Do not use negative signs with any answers.

Chapters $7-8$ Problems

Question $2$

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Variable and Absorption Costing$-$Service Company

Tech Helpers Company prepares a variable costing income statement for internal management and an absorption costing income statement for its bank. Tech Helpers provides a personal computer maintenance service that is sold for $$100.$ The variable and fixed cost data are as follows:

$\backslash$table$[[$Direct labor,$$25\mathrm{.}00$