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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: The

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: 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. 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.

Data January February March
Unit data:
Beginning inventory 0 150 150
Production 1,500 1,400 1,520
Sales 1,350 1,400 1,530
Variable costs:
Manufacturing cost per unit produced $1,000 $1,000 $1,000
Operating (marketing) cost per unit sold $800 $800 $800
Fixed costs:
Manufacturing costs $525,000 $525,000 $525,000
Operating (marketing) costs $130,000 $130,000 $130,000

(b). Prepare income statements for EntertainMe in January, February, and March 2020 under absorption costing.

Please help step by step with the preparation of the income statement under absorption costing.

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