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D/A #S Truth Co is sharing the following information regarding its June 30, 2020 Year end: Sales: 24,000 units Unit selling price: $40 Production: 29,990
D/A #S Truth Co is sharing the following information regarding its June 30, 2020 Year end: Sales: 24,000 units Unit selling price: $40 Production: 29,990 units Beginning inventory: 10 Manufacturing costs incurred: Variable: $525,000 Fixed: $372,000 Operating costs incurred: Variable: $144,800 Fixed: $76,400 I Required: 1) Prepare an income statement using the variable costing approach. 2) Prepare an income statement using the absorption costing approach. 3) Explain the difference in operating income. Show computations Drus
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