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Salem Screen Corporation manufactures and sells 50 -inch television sets and uses The selling price per unit is $2,400. The budgeted level of production used
Salem Screen Corporation manufactures and sells 50 -inch television sets and uses The selling price per unit is $2,400. The budgeted level of production used to standard costing. Actual data relating to January, February, and March 2020 are calculate the budgeted fixed manufacturing cost per unit is 1,000 units. There are as follows: no price, efficiency, or spending variances. Any production-volume variance is written off to cost of goods sold in the month in which it occurs. (Click to view the data.) Read the Data table Requirements 1. Prepare income statements for Salem Screen in January, February, and March 2020 under (a) variable costing and (b) absorption costing. 2. Explain the difference in operating income for January, February, and March under variable costing and absorption costing. (a). Prepare income statements for Salem Screen in January, February, and March of 2020 under variable costing. Complete the top half of the income statement for each month first, then complete the bottom portion. (Complete all input fields. Enter a "0" for any zero balance accounts.) b). Prepare income statements for Salem Screen in January, February, and March 2020 under absorption costing. have a variance, do not select a label. Abbreviation used; Adj. = Adjustment, Mfg. = Manufacturing.)
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