Novak Golf Ltd. produces and sells special golf balls for $26.00 for a pack of three. In May 2022, the company manufactured 35,700 packs (its normal volume) and sold 33,320 packs. The beginning inventory on May 1, 2022, was 5,950 packs. Production information for May 2022 is as follows:

Direct manufacturing labour per pack		15.00	minutes
Fixed selling and administrative costs		$47,600
Fixed manufacturing overhead		$157,080
Direct materials costs per pack		$4.00
Direct labour rate per hour		$28.00
Variable manufacturing overhead per pack		$5.00
Variable selling expenses per pack		$4.00

NOVAKGOLF 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 Contribution marginNet income / (loss)Variable selling costsVariable costsVariable cost of goods soldVariable cost of goods manufacturedVariable cost of goods available for saleFixed costsSalesTotal variable costs				$enter a dollar amount
select an opening section name Net income / (loss)Total variable costsVariable cost of goods manufacturedSalesVariable costsVariable selling costsFixed costsVariable cost of goods soldContribution marginVariable cost of goods available for sale:
select an income statement item Variable cost of goods available for saleTotal variable costsFixed costsNet income / (loss)Variable cost of goods soldContribution marginVariable cost of goods manufacturedSalesVariable costsVariable selling costs		$enter a dollar amount
select an income statement item Fixed costsVariable cost of goods available for saleVariable cost of goods soldVariable selling costsContribution marginNet income / (loss)Variable costsVariable cost of goods manufacturedSalesTotal variable costs		enter a dollar amount
select a closing section name Variable cost of goods available for saleVariable cost of goods manufacturedTotal variable costsNet income / (loss)Variable cost of goods soldContribution marginFixed costsSalesVariable selling costsVariable costs				enter a total amount for the section
select a summarizing line for the first part SalesContribution marginVariable costsTotal variable costsVariable cost of goods available for saleVariable cost of goods soldVariable selling costsVariable cost of goods manufacturedFixed costsNet income / (loss)				enter a total amount for the first part
select between addition and deduction AddLess: select an income statement item Contribution marginFixed costsTotal variable costsVariable cost of goods soldVariable costsNet income / (loss)Variable selling costsVariable cost of goods manufacturedSalesVariable cost of goods available for sale				enter a dollar amount
select a closing name for this statement Contribution marginVariable costsNet income / (loss)Variable cost of goods available for saleVariable cost of goods soldTotal variable costsSalesVariable cost of goods manufacturedFixed costsVariable selling costs				$enter a total amount for this statement

Reconcile the operating income calculated under absorption costing with the operating income calculated under variable costing. Assume that Aprils costs were the same as those of May. (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.)

Variable-costing net income / (loss)		$enter a dollar amount
FMOH deferred in ending inventory		enter a dollar amount
FMOH released from beginning inventory		enter a dollar amount
Absorption-costing net income		$enter a total amount

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