Sims Company began operations on January 1 . Its cost and sales information for this year follow. 1. Prepare an income statement for the year using variable costing. 2. Prepare an income statement for the year using absorption costing. Complete this question by entering your answers in the tabs below. Prepare an income statement for the year using absorption costing. Required information [The following information applies to the questions displayed below.] Oak Mart, a producer of solid oak tables, reports the following data from its first year of business. 1. Prepare the current-year income statement using variable costing. Required information [The following information applies to the questions displayed below.] Barnes Company reports the following for its product for its first year of operations. The company sells its product for $140 per unit. Compute contribution margin using variable costing assuming the company (a) roduces and sells 2,400 units and (b) produces 3,000 units and sells 2,400 units. Required information [The following information applies to the questions displayed below.] Trio Company reports the following information for its first year of operations. . Compute the product cost per unit using absorption costing. 2. Determine the cost of ending finished goods inventory using absorption costing. 3. Determine the cost of goods sold using absorption costing. Complete this question by entering your answers in the tabs below. Determine the cost of goods sold using absorption costing. Required information [The following information applies to the questions displayed below.] Trio Company reports the following information for its first year of operations. 1. Compute the product cost per unit using absorption costing. 2. Determine the cost of ending finished goods inventory using absorption costing. 3. Determine the cost of goods sold using absorption costing. Complete this question by entering your answers in the tabs below. Determine the cost of ending finished goods inventory using absorption costing. 1. Compute the product cost per unit using absorption costing. 2. Determine the cost of ending finished goods inventory using absorption costing. 3. Determine the cost of goods sold using absorption costing. Complete this question by entering your answers in the tabs below. Compute the product cost per unit using absorption costing. Sims Company began operations on January 1 . Its cost and sales information for this year follow. 1. Prepare an income statement for the year using variable costing. 2. Prepare an income statement for the year using absorption costing. Complete this question by entering your answers in the tabs below. Prepare an income statement for the year using variable costing. Required information [The following information applies to the questions displayed below] Trio Company reports the following information for its first year of operations. 1. Compute the product cost per unit using absorption costing. 2. Determine the cost of ending finished goods inventory using absorption costing. 3. Determine the cost of goods sold using absorption costing. Complete this question by entering your answers in the tabs below. Compute the product cost per unit using absorption costing. Required information [The following information applies to the questions displayed below.] Oak Mart, a producer of solid oak tables, reports the following data from its first year of business. 2. Prepare the current-year income statement using absorption costing. Complete this question by entering your answers in the tabs below. Prepare an income statement for the year using variable costing
