C D E F 2 3 Creative Condors Inc. calculates Income under absorption costing. The company...

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C D E F 2 3 Creative Condors Inc. calculates Income under absorption costing. The company provides bonuses to managers based on the operating income of the division. In 2021, the Cardinas division has the following financial results: 4 Sales (45,000 units) 7,500,000 S Cost of Goods Sold 6 Opening Inventory 7 Cost of Goods Manufactured (60,000 units) B Variable Costs $ 1,250,000 9 Fixed Costs $ 1,750,000 LO $ 1 Ending Inventory 3,000,000 $ 750,000 2 COGS $ 2,250,000 3 Gross Margin $ 5,250,000 4 Selling and Admin Expenses 5 Variable $ 1,000,000 6 Fixed $ 2,000,000 7 8 Operating Income 9 $ $ The old manager for the Cardinal division left in early 2021. A new manager was hired in 2022. The new manager produced 75,000 units and sold 75,000 units in 2022. 3,000,000 2,250,000 1 REQUIRED 3A) Calculate the operating income for 2022 using absorption costing. Use an income statement to show your work. 4B) Calculate the operating income for 2022 using variable costing. Do not use an income statement as part of your calculation. 5 5 Your Response C D E F 2 3 Creative Condors Inc. calculates Income under absorption costing. The company provides bonuses to managers based on the operating income of the division. In 2021, the Cardinas division has the following financial results: 4 Sales (45,000 units) 7,500,000 S Cost of Goods Sold 6 Opening Inventory 7 Cost of Goods Manufactured (60,000 units) B Variable Costs $ 1,250,000 9 Fixed Costs $ 1,750,000 LO $ 1 Ending Inventory 3,000,000 $ 750,000 2 COGS $ 2,250,000 3 Gross Margin $ 5,250,000 4 Selling and Admin Expenses 5 Variable $ 1,000,000 6 Fixed $ 2,000,000 7 8 Operating Income 9 $ $ The old manager for the Cardinal division left in early 2021. A new manager was hired in 2022. The new manager produced 75,000 units and sold 75,000 units in 2022. 3,000,000 2,250,000 1 REQUIRED 3A) Calculate the operating income for 2022 using absorption costing. Use an income statement to show your work. 4B) Calculate the operating income for 2022 using variable costing. Do not use an income statement as part of your calculation. 5 5 Your Response