Question: Using the absorption costing method, prepare an income statement for April 2021 Company XYZ for the month ended in April 2021 is as follows (

Using the absorption costing method, prepare an income statement for April 2021

Company XYZ for the month ended in April 2021 is as follows

( The variable manufacturing cost per unit and total manufacturing cost per unit of finished product on 01 April 2021 was $21.60 and $26.20 respectively )

Sales =3200units

Selling price per unit = $100

Fixed manufacturing cost = $25,200

Fixed selling and admin costs = $12,400

Finished products on 01 April 2021 = 400units

Products manufactured during month = 3600units

Variable cost per unit = $26

Variable selling & admin cost per sold unit = $12

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