Appliance Apps has the following costs associated with its production and sale of devices that allow appliances to receive commands from cell phones. Beginning Inventory 0 Units Produced 24,000 Units Sold 19,200 Selling Price per Unit $146 Variable Sales and Administration Expenses $4 Fixed Sales and Administration Expenses $936,000 Direct Material Cost per Unit $26 Direct Labor Cost per Unit $10 Variable Manufacturing Overhead Cost per Unit $2 Fixed Manufacturing Overhead Cost per Month $938,400 -Prepare an income statement under the absorption method. If an amount box does not require an entry, leave it blank. -Prepare an income statement under the variable costing method. If an amount box does not require an entry, leave it blank. -Prepare a reconciliation between the two statements.
Appliance Apps has the following costs associated with its production and sale of devices that allow appliances to receive commands from cell phones.
Beginning Inventory 0
Units Produced 24,000
Units Sold 19,200
Selling Price per Unit $146
Variable Sales and Administration Expenses $4
Fixed Sales and Administration Expenses $936,000
Direct Material Cost per Unit $26
Direct Labor Cost per Unit $10
Variable
Fixed Manufacturing Overhead Cost per Month $938,400
-Prepare an income statement under the absorption method. If an amount box does not require an entry, leave it blank.
-Prepare an income statement under the variable costing method. If an amount box does not require an entry, leave it blank.
-Prepare a reconciliation between the two statements.
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