Bracey Company manufactures and sells one product. The following Information pertains to the company's first year of operations:

The company does not incur any varlable manufacturing overhead costs or varlable selling and administratlve expenses. During its first year of operations, Bracey produced $20,000$ units and sold $18,000$ units. The selling price of the company's product is $$55$ per unit.

Requlred:

Assume the company uses super$-$varlable costing:

a$.$ Compute the unit product cost for the year.

b$.$ Prepare an Income statement for the year.

$2$ Assume the company uses a varlable costing system that assigns $$1250$ of direct labor cost to each unit produced:

a$.$ Compute the unit product cost for the year.

b$.$ Prepare an Income statement for the year.

Assume the company uses an absorption costing system that assigns $$12\mathrm{.}50$ of direct labor cost and $$15\mathrm{.}00$ of fixed manufacturing overhead cost to each unit produced:

a$.$ Compute the unlt product cost for the year.

b$.$ Prepare an Income statement for the year.

a$.$ Reconclle the difference between the super$-$varlable costing and varlable costing net operating incomes.

b$.$ Reconcile the difference between the super$-$varlable costing and absorption costing net operating incomes.

Complete this question by entering your answers in the tabs below.

Required $1A$

Required $1B$

Required $2A$

Required $2$B

Required $3A$

Required $3B$

Required $4A$

Required $4B$

Prepare an income statement for the year. Assume the company uses a variable costing $5$ystem that assigns $$12\mathrm{.}50$ of direct labor cost to each unit produced.

Note: Round your intermediate calculations to $2$ decimal places.

Show less $4$

Bracey Company

Variable Costing Income Statement