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Stonehenge Inc., a manufacturer of landscaping blocks, began operations on April 1 of the current year. During this time, the company produced 750.000 units
Stonehenge Inc., a manufacturer of landscaping blocks, began operations on April 1 of the current year. During this time, the company produced 750.000 units and sold 720,000 units at a sales price of $9 per unit. Cost information for this period is shown in the following table: Production costs Direct materials Direct labor Variable overhead Fixed overhead Nonproduction costs Variable selling and administrative Fixed selling and administrative $1.80 per unit $.30 per unit $495.000 in total $450,000 in total $18,000 in total $53,000 in total Prepare Stonehenge's December 31 income statement for the current year under absorption costing. Prepare Stonehenge's December 31 income statement for the current year under variable costing
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