DDD Golf Ltd. produces and sells special golf balls for $20 for a pack of three. In May 2020, the company manufactured 30,000 packs (its normal volume) and sold 28,000 packs. The beginning inventory on May 1, 2020, was 5,000 packs. Production information for May 2020 is as follows: Direct manufacturing labour per pack Fixed selling and administrative costs Fixed manufacturing overhead Direct materials costs per pack Direct labour rate per hour Variable manufacturing overhead per pack Variable selling expenses per pack 15 minutes $40,000 $132,000 $2 $24 $4 $2 (a) Your answer is incorrect. Calculate the total cost per pack under both absorption and variable costing. (Round answers to 2 decimal places, eg. 15.25.) Absorption Costing Variable Costing Total cost per pack $ $ $ | Prepare income statements in good form for the month ended May 31, 2020, under absorption and variable costing. (Enter loss using either a negative sign preceding the number e.g.-2,945 or parentheses eg.(2,945).) DDD GOLF LTD. Absorption-Costing Income Statement For the Month Ended May 31, 2020 Sales in units Sales $ 600000 Less : Cost of Goods Sold 1032000 Gross Profit 432000 Less : Selling and Administrative Costs 252000 Net Income /(Loss) $ 180000 DDD GOLF LTD. Variable-Costing Income Statement For the Month Ended May 31, 2020 Sales in units Sales $ Variable Cost of Goods Sold Variable Selling Costs Contribution Margin DDD GOLF LTD. Variable-Costing Income Statement For the Month Ended May 31, 2020 Sales in units Sales $ $ Variable Cost of Goods Sold Variable Selling Costs $ Contribution Margin Variable Selling Costs Less : Fixed Costs Net Income /(Loss) $ $ Attempts: 0 of 3 used Submit Answer Save for Later Last saved 1 minute ago. Saved work will be auto-submitted on the due date. (c) Reconcile the operating income calculated under absorption costing with the operating income calculated under variable costing. Assume that April's costs were the same as those of May. (Enter loss using either a negative sign preceding the number eg.-2,945 or parentheses eg. (2,945).) Variable-costing net income / (loss) $ FMOH deferred in ending inventory FMOH released from beginning inventory Absorption-costing net income Save for Later Attempts: 0 of 3 used Submit