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Appliance Apps has the following costs associated with its production and sale of devices that allow appliances to receive commands from cell phones. Beginning Inventory

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Appliance Apps has the following costs associated with its production and sale of devices that allow appliances to receive commands from cell phones. Beginning Inventory 0 Units Produced 24,000 Units Sold 19,200 $146 Selling Price per Unit Variable Sales and Administration Expenses Fixed Sales and Administration Expenses $4 $936,000 Direct Material Cost per Unit $26 Direct Labor Cost per Unit $10 Variable Manufacturing Overhead Cost per Unit $2 Fixed Manufacturing Overhead Cost per Month $938,400 Prepare an income statement under the absorption method. If an amount box does not require an entry, leave it blank. Appliance Apps Income Statement: Absorption Cost of Goods Sold: Total Cost of Goods Sold Sales and Administrative Expenses: Variable Fixed Prepare an income statement under the variable costing method. If an amount box does not require an entry, leave it Appliance Apps Income Statement: Variable Cost of Goods Sold: Total Cost of Goods Sold Sales and Administrative Expenses: Variable 0 Total Cost of Goods Sold Sales and Administrative Expenses: Variable Prepare a reconciliation between the two statements. Reconciliation

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