Business, 13.11.2019 18:31 rachelreed
Sims company, a manufacturer of tablet computers, began operations on january 1, 2017. its cost and sales information for this year follows.
manufacturing costs:
direct materials $ 35 per unit
direct labor $ 55 per unit
overhead costs for the year:
variable overhead $ 3,150,000
fixed overhead $ 7,350,000
selling and administrative costs for the year:
variable $ 800,000
fixed $ 4,500,000
production and sales for the year:
units produced 105,000 units
units sold 75,000 units
sales price per unit $ 350 per unit
1. prepare an income statement for the year using variable costing.
2. prepare an income statement for the year using absorption costing.
3. under what circumstance(s) is reported income identical under both absorption costing and variable costing?
Answers: 3
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Sims company, a manufacturer of tablet computers, began operations on january 1, 2017. its cost and...
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