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Gibson Manufacturing Company makes a product that sells for $74.80 per unit. Manufacturing costs for the product amount to $25.00 per unit variable, and $103,680
Gibson Manufacturing Company makes a product that sells for $74.80 per unit. Manufacturing costs for the product amount to $25.00 per unit variable, and $103,680 fixed. During the current accounting period, Gibson made 4,800 units of the product and sold 4,300 units. Selling and administrative expenses were zero. Required a. Prepare an absorption costing income statement. b. 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.) GIBSON MANUFACTURING COMPANY Absorption Costing Income Statement 0 $ 0
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