Required information Exercise 19-3 (Algo) Income statement under absorption costing and variable costing LO P1, P2 [The following information applies to the questions displayed below.] Cool Sky reports the following for its first year of operations. The company produced 44,000 units and sold 36,000 units at a price of $120 per unit. Direct materials Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses. Fixed selling and administrative expenses Exercise 19-3 (Algo) Part 2b $ 48 per unit $ 18 per unit $6 per unit $ 440,000 per year $ 11 per unit $ 105,000 per year pany uses variable costing. Prepare its income statement for the year under variable costing
Required information Exercise 19-3 (Algo) Income statement under absorption costing and variable costing LO P1, P2 [The following information applies to the questions displayed below.] Cool Sky reports the following for its first year of operations. The company produced 44,000 units and sold 36,000 units at a price of $120 per unit. Direct materials Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses. Fixed selling and administrative expenses Exercise 19-3 (Algo) Part 2b $ 48 per unit $ 18 per unit $6 per unit $ 440,000 per year $ 11 per unit $ 105,000 per year pany uses variable costing. Prepare its income statement for the year under variable costing
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please do not give solution in image format thanku
![work i
Required information
Exercise 19-3 (Algo) Income statement under absorption costing and variable costing LO P1, P2
[The following information applies to the questions displayed below.]
Cool Sky reports the following for its first year of operations. The company produced 44,000 units and sold 36,000 units
at a price of $120 per unit.
Direct materials
Direct labor
Variable overhead
Fixed overhead
Variable selling and administrative expenses
Fixed selling and administrative expenses
Saved
Exercise 19-3 (Algo) Part 2b
Income Statement (Variable Costing)
$ 48 per unit
$ 18 per unit
$ 6 per unit
440,000 per year
$ 11 per unit
$
$ 105,000 per year
2b. Assume the company uses variable costing. Prepare its income statement for the year under variable costing](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb476d682-0c1b-4d81-b957-84480e4ac6fd%2F7df3f127-e84c-43cf-8c61-e04ee2825abd%2Fid3kcnk_processed.jpeg&w=3840&q=75)
Transcribed Image Text:work i
Required information
Exercise 19-3 (Algo) Income statement under absorption costing and variable costing LO P1, P2
[The following information applies to the questions displayed below.]
Cool Sky reports the following for its first year of operations. The company produced 44,000 units and sold 36,000 units
at a price of $120 per unit.
Direct materials
Direct labor
Variable overhead
Fixed overhead
Variable selling and administrative expenses
Fixed selling and administrative expenses
Saved
Exercise 19-3 (Algo) Part 2b
Income Statement (Variable Costing)
$ 48 per unit
$ 18 per unit
$ 6 per unit
440,000 per year
$ 11 per unit
$
$ 105,000 per year
2b. Assume the company uses variable costing. Prepare its income statement for the year under variable costing
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