I need help with question c) pls put the solutions and input values for in the boxes in c) Variable-costing net income, FMOH deferred in ending inventory, FMOH released from beginning inventory, and Absorption-costing net income. I need it asap pls
The hoho Company manufactures and sells personal organizers. The following are the operating date for the company for 2021 and 2022- 2021 2022 Units produced 62.400 52,000 Units sold 56.160 56.160 Selling price per unit $285.00 $285.00 Variable costs per unit Direct materials $85.00 $85.00 Direct labour 45.00 45.00 Variable overhead 40.00 40.00 Selling expenses 35.00 35.00 Fixed manufacturing overhead (total) $2.620,800 $2.620,800 Fixed selling and administrative expenses (total) $312,000 $312,000 There was no beginning inventory on January 1, 2021. The company used the FIFO method to calculate the cost of inventories. Ignore income taxes.(a) V Your answer is correct. Prepare income statements for 2021 and 2022 using the absorption-costing method. (Round per unit calculations to 2 decimal places, e.g. 15.25 and final answers to O decimal places, e.g. 125.) CORONADOCOMPANY Absorption-Costing Income Statement For the Years Ended December 31 2021 2022 Sales in units 56160 56160 Sales 16005600 16005600 Cost of goods sold 11905920 12325248 Gross profit 4099680 3680352 Less Selling and administrative costs 2277600 1 2277600 Net Income 1822080 1402752(b) V Your answer is correct. Prepare income statements for 2021 and 2022 using the variable-costing method. (Round per unit calculations to 2 decimal places, e.g. 15.25 and final answers to O decimal places, e.g. 125.) CORONADOCOMPANY Variable-Costing Income Statement For the Years Ended December 31 2021 2022 in units 56160 56160 16005600 16005600 rlable costs rlable cost of goods sold 9547200 9547200 rlable selling costs 1965600 1965600 tel variable costs 11512800 11512800 intribution margin 4492800 4492800 Fixed costs ted manufacturing overhead 2620800 2620800 ed selling and administrative expenses 312000 312000 tal fixed costs 2932800 2932800 it Income 1560000 1560000(c) Reconcile the absorption-costing and variable-costing net income figures for 2021 and 2022. (Round per unit calculations to 2 decimal places, e.g. 15.25 and final answers to O decimal places, e g. 125.) 2021 2022 Variable-costing net income FMOH deferred in ending inventory FMOH released from beginning inventory Absorption-costing net income
