Question
Income Statements underAbsorptionandVariable Costing Shawnee Motors Inc. assembles and sells MP3 players. The company began operations on August 1 and operated at 100% of capacity
Income Statements underAbsorptionandVariable Costing
Shawnee Motors Inc. assembles and sells MP3 players. The company began operations on August 1 and operated at 100% of capacity during the first month. The following data summarize the results for August:
Sales (10,500 units)$1,470,000
Production costs (14,000 units):
Direct materials$725,200
Direct labor348,600
Variable factory overhead173,600
Fixed factory overhead116,200
1,363,600
Selling and administrative expenses:Variable selling and administrative expenses$211,400Fixed selling and administrative expenses81,800293,200
If required, round interim per-unit calculations to the nearest cent.
I need the answers for a income statement according to the absorption costing concept and make a variable costing income statement
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