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Dion Company reports the absorption costing income statement below for May. The company began the month with no finished goods inventory. Dion produced 22,800
Dion Company reports the absorption costing income statement below for May. The company began the month with no finished goods inventory. Dion produced 22,800 units, and 3,400 units remain in ending finished goods inventory for May. Fixed overhead was $68,400. Variable selling and administration expenses were $44,000 and fixed selling and administrative expenses were $24,600. Sales (19,400 units) $ 485,000 Cost of goods sold Gross profit Selling and administrative expenses Income 380,000 105,000 68,600 $ 36,400 Prepare an income statement using variable costing. DION COMPANY Income Statement (Variable Costing) 0 0
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