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Masson, Inc. had the following activity during the last 3 years: Unit sales 2017 10,000 2018 8,000 2019 12,000 Unit sales price $ 15
Masson, Inc. had the following activity during the last 3 years: Unit sales 2017 10,000 2018 8,000 2019 12,000 Unit sales price $ 15 $ 15 Production in units_ 10,000 10,000 Beginning inventory-units -0- Ending inventory-units -0- -0- 2,000 $ 15 10,000 2,000 -0- Unit variable production costs $ 8 $ 8 $ 8 Unit S and A costs $ 0.50 $ 0.50 $ 0.50 Fixed overhead costs $30,000 Fixed S and A costs $20,000 $30,000 $20,000 $30,000 $20,000 1. Prepare income statements for each year using both the Full Costing and the Variable Costing methods. 2. Reconcile any difference in net income each year.
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