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Kissimmee Paint Co. reported the following data for the month of July. There were no beginning inventories and all units were completed (no work in
Kissimmee Paint Co. reported the following data for the month of July. There were no beginning inventories and all units were completed (no work in process). Selling and administrative expenses: Variable $2 per unit sold Fixed $39,000 In the month of July, 28,000 of the 30,000 seats manufactured were sold at a price of $80 per unit. (a) Prepare a variable costing income statement. (b) Prepare an absorption costing income statement. (c) Briefly explain why there is a difference in income from operation between the two methods
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