E21-20 (similar to) Question Help In May 2018, ExerAde produced 12,000 cases of powdered drink mix and sold 13,000 cases, of which 1,000 were produced in April. The total April production was manufacturing and $4 selling and administrative), and total fxed costs were $90,000 ($72,000 manufacturing and $18,000 selling and administrative). ExerAde's Ma Requirements (Click the icon to view the variable costing income statement.) Read the requirements Requ 1. Prepare the May income statement using absorption costing 2. Is operating income using absorption costing higher or lower than variable irement 1. Prepare the Ma y income statement using absorpticn costing income? Explain why. Determine the balance in Finished Goods Inventory as of May 31 ExerAde Income Statement (Absorption Costing) Month Ended May 31, 2018 3. ExerAde Income Statement (Variable Costing) Month Ended May 31, 2018 Print Done Contribution Margin Net Sales Revenue $ 390,000 Variable Costs: S 130,000 52,000 Variable Manufacturing Overhead 182,000 Variable Selling and Administrative Costs Contribution Margin Fixed Costs 208,000 72,000 18,000 Fixed Manufacturing Overhead Operating Income Fixed Selling and Administrative Costs 90,000 S 118,000 Operating Income PrintDone Choose from any list or enter any number in the input fields and then click Check Answer E21-20 (similar to) Question Help In May 2018, ExerAde produced 12,000 cases of powdered drink mix and sold 13,000 cases, of which 1,000 were produced in April. The total April production was manufacturing and $4 selling and administrative), and total fxed costs were $90,000 ($72,000 manufacturing and $18,000 selling and administrative). ExerAde's Ma Requirements (Click the icon to view the variable costing income statement.) Read the requirements Requ 1. Prepare the May income statement using absorption costing 2. Is operating income using absorption costing higher or lower than variable irement 1. Prepare the Ma y income statement using absorpticn costing income? Explain why. Determine the balance in Finished Goods Inventory as of May 31 ExerAde Income Statement (Absorption Costing) Month Ended May 31, 2018 3. ExerAde Income Statement (Variable Costing) Month Ended May 31, 2018 Print Done Contribution Margin Net Sales Revenue $ 390,000 Variable Costs: S 130,000 52,000 Variable Manufacturing Overhead 182,000 Variable Selling and Administrative Costs Contribution Margin Fixed Costs 208,000 72,000 18,000 Fixed Manufacturing Overhead Operating Income Fixed Selling and Administrative Costs 90,000 S 118,000 Operating Income PrintDone Choose from any list or enter any number in the input fields and then click Check