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Bonita's Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2022, the company incurred the following costs: Bonita's Company
Bonita's Company builds custom fishing lures for sporting goods stores. In its first year of operations, 2022, the company incurred the following costs: Bonita's Company sells the fishing lures for $23.00. During 2022, the company produced 95,300 lures and sold 80,000 . Prepare a variable-costing income statement for 2022. (Round per unit calculations to 2 decimal places, eg. 15.25. Enter loss using either a negative sign preceding the number es. 2,945 or parentheses eg. (2,945). Foxed manufacturing overhead Fixed selling and administrative expenses Total fixed cots Loss Metlock Products manufactures and sells a variety of camping products. Recently the company opened a new factory to manufacture a deluxe portable cooking unit Cost and sales data for the first month of operation are shown below: The portable cookingunit sells for $110. Management is interested in the opening month's results and has asked for an income statement. Reconcile the difference in net income between the absorption-costing and variable-costing methods
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