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EntertainMe Corporation manufactures and sells 50 -inch television sets and uses standard costing. Actual data relating to January, February, and March 2020 are as follows:
EntertainMe Corporation manufactures and sells 50 -inch television sets and uses standard costing. Actual data relating to January, February, and March 2020 are as follows: (Click to view the data.) The selling price per unit is $3,300. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 1,500 units. There are no price, efficiency, or spending variances. Any production-volume variance is written off to cost of goods sold in the month in which it occurs. Read the (b). Prepare income statements for EntertainMe in January, February, and March 2020 under absorption costing. Complete the top half of the income statement for each month first, then complete the bottom portion. (Enter a "0" for any zero balan a variance, do not select a label. Abbreviation used; Adj. = Adjustment, Mfg. = Manufacturing.)
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