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Create a profit statement for the company using the absorption cost method. Company A produces computer chips. Budgeted production: 500 computer chips Budgeted fixed production

Create a profit statement for the company using the absorption cost method.

Company A produces computer chips.

Budgeted production: 500 computer chips

Budgeted fixed production overhead: $282,000.

The actual production level was 20% lower than estimated production level.

Actual fixed production overhead: $300,000.

SG&A expenses: $18,250.

Company A sells 200 computer chips at $150 each. Variable cost is $56 per unit.

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