Indigo Golf Ltd. produces and sells special golf balls for $23.00 for a pack of three. In May 2022, the company manufactured 36,600packs (its normal volume) and sold 34,160 packs. The beginning inventory on May 1, 2022, was 6,100 packs. Production information for May 2022 is as follows:

Direct manufacturing labour per pack		15.00	minutes
Fixed selling and administrative costs		$48,800
Fixed manufacturing overhead		$161,040
Direct materials costs per pack		$3.00
Direct labour rate per hour		$24.00
Variable manufacturing overhead per pack		$5.00
Variable selling expenses per pack		$3.00

Calculate the total cost per pack under both absorption and variable costing. (Round per unit calculations and final answers to 2 decimal places, e.g. 15.25.)

		Absorption Costing		Variable Costing
Total cost per pack		$enter a dollar amount rounded to 2 decimal places		$enter a dollar amount rounded to 2 decimal places

Prepare income statements in good form for the month ended May 31, 2022, under absorption and variable costing. (Enter loss using either a negative sign preceding the number e.g. -2,945 or parentheses e.g. (2,945). Round per unit calculations to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 125.)

INDIGOGOLF LTD. Absorption-Costing Income Statement choose the accounting period May 31, 2022For the Month Ended May 31, 2022For the Year Ended May 31, 2022
Sales in units		enter a number of units
select an income statement item Contribution marginCost of goods available for saleNet income / (loss)Cost of goods manufacturedCost of goods soldGross profitManufacturing overheadSalesOperating expensesSelling and administrative costs		$enter a dollar amount
select between addition and deduction AddLess: select an income statement item SalesSelling and administrative costsContribution marginCost of goods available for saleCost of goods soldNet income / (loss)Cost of goods manufacturedGross profitOperating expensesManufacturing overhead		enter a dollar amount
select a summarizing line for the first part Cost of goods soldSelling and administrative costsSalesOperating expensesCost of goods manufacturedContribution marginManufacturing overheadCost of goods available for saleNet income / (loss)Gross profit		enter a total amount for the first part
select between addition and deduction AddLess: select an income statement item Contribution marginCost of goods manufacturedGross profitCost of goods available for saleSalesSelling and administrative costsCost of goods soldOperating expensesManufacturing overheadNet income / (loss)		enter a dollar amount
select a closing name for this statement Operating expensesContribution marginManufacturing overheadCost of goods manufacturedGross profitCost of goods soldNet income / (loss)SalesSelling and administrative costsCost of goods available for sale		$enter a total amount for this statement

INDIGOGOLF LTD. Variable-Costing Income Statement choose the accounting period May 31, 2022For the Month Ended May 31, 2022For the Year Ended May 31, 2022
Sales in units				enter a number of units
select an income statement item Variable costsSalesVariable cost of goods soldFixed costsNet income / (loss)Contribution marginVariable selling costsVariable cost of goods available for saleTotal variable costsVariable cost of goods manufactured				$enter a dollar amount
select an opening section name SalesVariable cost of goods manufacturedVariable selling costsNet income / (loss)Variable cost of goods available for saleFixed costsVariable costsVariable cost of goods soldTotal variable costsContribution margin:
select an income statement item Variable cost of goods soldVariable cost of goods available for saleSalesVariable selling costsFixed costsContribution marginTotal variable costsVariable cost of goods manufacturedVariable costsNet income / (loss)		$enter a dollar amount
select an income statement item SalesFixed costsVariable selling costsVariable cost of goods soldVariable cost of goods manufacturedVariable cost of goods available for saleNet income / (loss)Variable costsTotal variable costsContribution margin		enter a dollar amount
select a closing section name Variable cost of goods manufacturedNet income / (loss)Contribution marginSalesVariable selling costsVariable costsVariable cost of goods available for saleVariable cost of goods soldTotal variable costsFixed costs				enter a total amount for the section
select a summarizing line for the first part Variable cost of goods manufacturedVariable costsNet income / (loss)Variable cost of goods available for saleTotal variable costsVariable selling costsSalesFixed costsContribution marginVariable cost of goods sold				enter a total amount for the first part
select between addition and deduction AddLess: select an income statement item Variable cost of goods manufacturedTotal variable costsVariable cost of goods available for saleContribution marginVariable cost of goods soldSalesVariable costsNet income / (loss)Variable selling costsFixed costs				enter a dollar amount
select a closing name for this statement Variable costsNet income / (loss)Variable cost of goods manufacturedContribution marginSalesVariable cost of goods soldVariable cost of goods available for saleVariable selling costsFixed costsTotal variable costs				$enter a total amount for this statement