Homework: Ch 21 A Homework (Required) Save Score: 1.96 of 7 pts 5 of 14 (5 complete) HW Score: 24.09%, 24.09 of 100 pts %E21-17 (similar to) Question Help O ExerAde produced 16,000 cases of powdered drink mix and sold 14,000 cases in April 2018. The sales price was $25, variable costs were $11 per case ($8 manufacturing and $3 selling and administrative), and total fixed costs were $95,000 ($80,000 manufacturing overhead and $15,000 selling and administrative). The company had no beginning Finished Goods Inventory. The company had the following results using variable costing: (Click the icon to view the data using variable costing.) Read the requirements 350000 Reference Requirement 1. Prepare the April income statement using absorption costing. ExerAde Income Statement (Absorption Costing) Month Ended April 30, 2018 Net Sales Revenue Cost of Goods Sold: Variable Cost of Goods Sold 112000 Fixed Cost of Goods Sold Gross Profit Selling and Administrative Costs: Variable Selling and Administrative Costs Fixed Selling and Administrative Costs Variable Costing $ 8.00 $ 16,000 Total product cost per unit Cost of Finished Goods Inventory as of April 30, 2018 Operating Income Print Done * Requirements 1. Prepare the April income statement using absorption costing. 2. Determine the product cost per unit and the total cost of the 2,000 cases in Finished Goods Inventory as of April 30. 3. Is the April 30 balance in Finished Goods Inventory higher or lower than variable costing? Explain why. Print Done Choose from any list or enter any number in the input fields and then click Check Answer. ? parts remaining Clear All Check