Benson Glass Company makes stained glass lamps. Each lamp that it sells for $315.00 per lamp requires $17.30 of direct materials and $70.40 of direct labor. Fixed overhead costs are expected to be $192,000 per year. Benson Glass expects to sell 1,000 lamps during the coming year. Selling and administrative expenses were zero. Required a. Prepare income statements using absorption costing, assuming that Benson Glass makes 1,000, 1,250, and 1,500 lamps during the year b. Prepare income statements using variable costing, assuming that Benson Glass makes 1,000, 1,250, and 1,500 lamps during the year Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Prepare income statements using absorption costing, assuming that Benson Glass makes 1,000, 1,250, and 1,500 lamps during the year. (Do not round intermediate calculations.) BENSON GLASS COMPANY Income Statements -Absorption Costing Units Produced 1,000 1,250 1,500 Cost of goods sold 1,000 Sales revenue 315,000 315,000 Gross margin (315,000) (314,000) 279,700 73,700 $ (387,700) 35,300 $ (630,000) Net income Prev 3 of 4 Next> Benson Glass Company makes stained glass lamps. Each lamp that it sells for $315.00 per lamp requires $17.30 of direct materials and $70.40 of direct labor. Fixed overhead costs are expected to be $192,000 per year. Benson Glass expects to sell 1,000 lamps during the coming year. Selling and administrative expenses were zero. Required a. Prepare income statements using absorption costing, assuming that Benson Glass makes 1,000, 1,250, and 1,500 lamps during the year b. Prepare income statements using variable costing, assuming that Benson Glass makes 1,000, 1,250, and 1,500 lamps during the year Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Prepare income statements using variable costing, assuming that Benson Glass makes 1,000, 1,250, and 1,500 lamps during the year. (Do not round intermediate calculations.) BENSON GLASS COMPANY Income Statements - Variable Costing Units Produced 1,500 1,000 1,250 0 $ 0 0 Required A Required B 3 of 4 Next> Prev