3 2 Super Products, Inc. uses a standard costing system. For June and July the following costs were budgeted and incurred: Manufacturing Costs: 4 Variable costs per unit: 5 Direct Material 530 Saving your work for grading 6 Direct Labour $42 7 Variable Overhead $6 B 9 Fored Overhead Costs: (Monthly) $300,000 10 Selling & Admin Costs: Remember to press the yellow button to save your work. A link to your spreadsheet will be placed in the clipboard. Click the Moodle tab and follow the instructions to paste your link for grading. If you make changes to your spreadsheet, click the yellow button to save. There is no need to paste another link to your spreadsheet. 11 Variable Costs Per Unit Sold 12 Foxed Monthly $22 $175,000 13 14 The budgeted denominator (planned) level used to determine the fixed overhead allocation rate was 5,000 units for each month. For July, the following information was available: 15 16 17 Selling price per unit $300 18 Inventory July 1 1,000 Units 19 Units produced in July 4,000 Units 20 Units sold in July 3,200 Units 21 22 Assume there are no price, efficiency, or rate (spending) variances. 23 There are 2 parts to this question below 24 1) Prepare a statement of comprehensive income for the month of July using absorption costing. (8 marks)