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Problem 7-18 Variable and Absorption Costing Unit Product Costs and Income Statements [LO7-1, LO7- 2] Haas Company manufactures and sells one product. The following information
Problem 7-18 Variable and Absorption Costing Unit Product Costs and Income Statements [LO7-1, LO7- 2] Haas Company manufactures and sells one product. The following information pertains to each of the company's first three years of operations: During its first year of operations, Haas produced 40,000 units and sold 40,000 units. During its second year of operations, it produced 55,000 units and sold 30,000 units. In its third year, Haas produced 20,000 units and sold 45,000 units. The selling price of the company's product is $52 per unit. repare an income statement for Year 1, Year 2, and Year 3. Assume the company uses absorption costing. (Round your ntermediate calculations to 2 decimal places.)
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