Variable costing conversion

Prepare an income statement using variable costing.

BUS-FPX4061 - Managerial Accounting Principles Assessment 7: Variable Costing Conversion Problem 1 Company name Bake the given problem based on the following information. Year 1 Scenario Table 1 Jordan Income Statement Under Absorption Costing 201545) 2017 (8) 828,000 1620,000 828,000 Cout of goods gold ($31 per ung) 420 000 1 240 030 Com of goods sold ($31 perunit 820.030 Gross margin 208,800 3801030 Good margin 208,030 380 000 Selling and adminithameed coopment 241,800 300 000 Selling and administrative popinges 241,000 304,800 Net incomeloss 153 6081 74030 Net incomeloss (53030] 74,808 Selling price 831 perunit 2018 Vanably soming and admishoweromar Units produced 30 080 Units sold 20 080 During 2016 and 2017. the variable cost per unit stayed the same. 2016 2017 During 2018 and 2017, the bound flood costs stayed the same. TRUE Por Ink Product Cost Died materials Direct labor Variable surhead Floed overhead ($300 000 /30 030 unis] Toted produc cost perunit $31 Variable quithing ST Wasable selling and adminishave (32 20 per unit) 451020 20 020 Fluid owithwad ($390 090 /30.200 units) Fired selling and administrative 218 030 216 080A IC D E F GH JK L MH PO R ST V X Y Z A AD AF A AH Prepare an income statement for each pear using variable costing 2018 Variable thing and administoowe $2:25 parunig 45.030 90.000 Fixed selling and administrative 216 030 Lows variable copenasco: Variable production costs (821 por unit gold's Variable selling and administrative costs (82 25 per unit sold) 45003 Total variable cast Contribution margin Factory overhand Fined selling and adminishalve cause 214.000 218.009 Total fland expenses Net income "Note: The variable production cast is computed by adding the per-unit production cages for dined materials, dined labor, and variable overhead ($5 + 59 - $7 = $21)