Chicago Screen

Corporation manufactures and sells 50-inch television sets and uses standard costing. Actual data relating to January, February, and March 2020

are as follows: Part 1The selling price per unit is $3,400. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 1,300

units. There are no price, efficiency, or spending variances. Any production-volume variance is written off to cost of goods sold in the month in which it occurs.Read the requirements

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Chicago Screen Corporation manufactures and sells 50-inch television sets and uses standard costing. Actual data relating to January, February, and March 2020 are as follows: (Click to view the data.) The selling price per unit is $3,400. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 1,300 units. There are no price, efficiency, or spending variances. Any production-volume variance is written off to cost goods sold in the month in which it occurs. Read the Requirement 1. Prepare income statements for Chicago Screen in January, February, and March 2020 under (a) variable costing and (b) absorption costing. (a). Prepare income statements for Chicago Screen in January, February, and March of 2020 under variable costing. Complete the top half of the income statement for each month first, then complete the bottom portion. (Complete all input fields. Enter a "0" for any zero balance accounts.) Data table Requirements 1. Prepare income statements for HD in January, February, and March 2020 under (a) variable costing and (b) absorption costing. 2. Explain the difference in operating income for January, February, and March under variable costing and absorption costing