Limonade produced 15,000 cases of powdered drink mix and sold 13,000 cases in April. The sales price was $30 per case, variable costs were $10 per case ($8 manufacturing and $2 selling and administrative), and total fixed costs were $70,000 ($45,000 manufacturing overhead and $25,000 selling and administrative). The company had no beginning Finished Goods Inventory. The company had the following results using variable costing: View the data using variable costing, Read the requirements. Requirement 1. Prepare the April income statement using absorption costing. Net Sales Revenue Cost of Goods Sold: Variable Cost of Goods Sold Fixed Cost of Goods Sold Income Statement (Absorption Costing) Month Ended April 30 Gross Profit Selling and Administrative Costs: Limonade Operating Income Variable Selling and Administrative Costs Fixed Selling and Administrative Costs 39,000 25,000 $ 390,000

company had the following results using vartable couting Vew be data using variable costing. Bead the requirments. Cirlo Plequirsment 1. Prepare the Apet income statement using absoption cotting equirement 1. Prepare th Data using variable costing Requirements 1. Prepare the April income statement using absorption costing. 2. Determine the product cost per unit and the total cost of the 2,000 cases in Finished Goods Inventory as of April 30. 3. Is the April 30 balance in Finished Goods Inventory higher or lower than variable costing? Explain why