Prepare the Income Statement of Carry Manufacturers for July 2022 using the absorption costing method.

INFORMATION

Opening inventory 0

Number of units manufactured 5000

Number of units sold 4500

Selling price per unit $300

Direct materials cost per unit $60

Direct labour cost per unit $40

Fixed manufacturing overheads cost $90000

Variable manufacturing overheads per unit $30

Fixed selling cost $50000

Fixed administrative cost $60000

Sales commission $30 per unit