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Corporation manufactures and sells 50-inch television sets and uses standard costing. Actual data relating toJanuary, February, and March are as follows:Salem Screen2017(Click to view the data.)1The selling price per unit is . The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is units. There are 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.$3,6001,000Read the requirements .Requirement 1. Prepare income statements for in January, February, and March under (a) variable costing and (b) absorption costing.Salem Screen2017(a). Prepare income statements for in January, February, and March of under variable costing. Salem ScreenComplete the top half of the income statement for each month first, then complete the bottom portion. (Complete all answer boxes. Student: Natalie ViolettoDate: 10/12/20Instructor: Debra Touhey, Ajita ChorgeCourse: ACC-207-R6139 Cost Accounting20EW6Assignment: 5-1 MyAccountingLabHomework: Chapter 922017