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Walton Manufacturing Company makes a product that sells for $75.80 per unit. Manufacturing costs for the product amount to $26.00 per unit variable, and $74,160
Walton Manufacturing Company makes a product that sells for $75.80 per unit. Manufacturing costs for the product amount to $26.00 per unit variable, and $74,160 fixed. During the current accounting period, Walton made 3,600 units of the product and sold 3,200 units. Selling and administrative expenses were zero.
Required
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Prepare an absorption costing income statement.
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Prepare a variable costing income statement.
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