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During 2022, Blue Spruce Corp. produced 49,900 units and sold 44,910 for $14.00 per unit. Variable manufacturing costs were $5.0 per unit. Annual fixed manufacturing
During 2022, Blue Spruce Corp. produced 49,900 units and sold 44,910 for $14.00 per unit. Variable manufacturing costs were $5.0 per unit. Annual fixed manufacturing overhead was $89,820. Variable selling and administrative costs were $2.00 per unit sold, and fixed selling and administrative expenses were $19,400. (a) Prepare an absorption-costing income statement. Blue Spruce Corp. Income Statement-Absorption Costing For the Year Ended December 31, 2022 Sales Cost of goods sold Beginning inventory Add Costs of goods manufactured Cost of goods sold Add Volume variance Gross margin Less Selling and administrative expenses Operating income $ 0 $ 628740 $
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