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During 2020, Rafael Corp. produced 39,600 units and sold 39,600 for $15 per unit. Variable manufacturing costs were $7 per unit. Annual fixed manufacturing overhead

During 2020, Rafael Corp. produced 39,600 units and sold 39,600 for $15 per unit. Variable manufacturing costs were $7 per unit. Annual fixed manufacturing overhead was $118,800 ($3 per unit). Variable selling and administrative costs were $2 per unit sold, and fixed selling and administrative expenses were $19,200. Prepare a variable-costing income statement.

Rafael Corp. Income StatementVariable Costing

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