Finch Manufacturing Company makes a product that sells for $75.00 per unit. Manufacturing costs for the product amount to $25.30 per unit variable, and $107,500 fixed. During the current accounting period, Finch made 5,000 units of the product and sold 4,400 units. Selling and administrative expenses were zero.

Required

Prepare an absorption costing income statement.

Prepare a variable costing income statement.

Complete this question by entering your answers in the tabs below.

Required A

Required B

Prepare an absorption costing income statement. (Do not round intermediate calculations.)

FINCH MANUFACTURING COMPANY
Absorption Costing Income Statement

Complete this question by entering your answers in the tabs below.

Required A

Required B

Prepare a variable costing income statement.

FINCH MANUFACTURING COMPANY
Variable Costing Income Statement