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53-17 (similar to) HW Score: 72.65% Click the lon to view relevant data) Click the len to view the income Statement(Absorption Costing for March Cilek the icon to view the income Statement (Variable Costing for April) Suppose that during April, Refresh de produces 15.000 cases of powdered drink mix and sells 16.000 case Sale price Valable to per me, and total fixed expenses remain the same as in March 1. Prepare the April income statement under absorption costing Isabion costing income higher or lower than variable cosing income? Explain. Recore the difference between the absorption costing income statement and the variable costing income ton Requirement 1. Prepare the April income statement under absorption costing RefreshAde Income Statement (Absorption Costing Month Ended April 30 Sales reven Det of goods sold Beginning finished goods inventory car el goods manufactured Son of goods available for sale Enhed goods inventory Cost of goods sold Deduc perting expenses Data Table ta.) Statement (Absorpti Statement (Variable was 2,000 cases. me? ment .. $ 6.00 ng 4.00 Direct materials cost per case. Direct labour cost per case. Variable manufacturing overhead cost per case Sales commission per case Total fixed manufacturing overhead expenses Total fixed marketing and administrative expenses 3.00 3.50 75,000 26,000 Absorption Variable Costing Costing $ 6.00 $ 6.00 Direct materials Direct labour 4.00 4.00 Variable manufacturing overhead 3.00 3.00 Fixed manufacturing overhead 5.00. 18.00 $ 13.00 Total cost per case * $75,000 fixed manufacturing overhead 15,000 cases = $5 per case ver Print Done More Info Thirstade Income Statement (Variable Costing) Month Ended April 30 Sales revenue $ 512,000 Deduct: Variable expenses: Variable cost of goods sold: Beginning finished goods inventory $ 26,000 195,000 Variable cost of goods manufactured Variable cost of goods available for sale 221,000 (13,000) Ending finished goods inventory Variable cost of goods sold 208,000 56,000 (264,000) 248,000 Sales commission expense Contribution margin Deduct: Fixed expenses: Fixed manufacturing overhead Fixed marketing and administrative expenses 75,000 26,000 (101,000) Operatina income $ 147,000 Print Done Thirstade Income Statement (Absorption Costing) Month Ended March 31 Sales revenue $ 416,000 Deduct Cost of goods sold: Beginning finished goods inventory $ 0 270,000 Cost of goods manufactured Cost of goods available for sale 270,000 (36,000) Ending finished goods inventory (234.000) Cost of goods sold Gross margin Deduct: Operating expenses 182,000 (71.500) $ 110,500 Operating income