During its second month of operations, Texas Corporation produced 300 units and sold 280 units at $40 each.The beginning inventory comprised 50 units, and costs were unchanged from the previous month.Texas uses a LIFO cost flow assumption to account for inventory.Costs incurred during the second month were:

Direct materials per unit produced$3

Direct labor per unit produced$5

Variable overhead per unit produced$7

Variable selling and administrative cost per unit sold $5

Total fixed production overhead$6,000

Total fixed selling and administrative costs$3,000

1.income statement using the absorption costing method.

2.income statement using the variable costing method.

3.income statement using the throughput costing method.

4.Reconcile/explain the income between absorption costing and variable costing.

5.Reconcile/explain the income between variable costing and throughput costing.

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