Business
Business, 24.03.2020 16:33, mrsqueenbabe516

On January 1 of the current year, Townsend Co. commenced operations. It operated its plant at 100% of capacity during January. The following data summarized the results for January: Units Production 50,000 Sales ($18 per unit) (42,000) Inventory, January 31 8,000 Manufacturing costs: Variable $575,000 Fixed 80,000 Total $655,000 Selling and administrative expenses: Variable $35,000 Fixed 10,500 Total $45,500 a. Prepare an income statement using absorption costing. Townsend Co. Absorption Costing Income Statement For the Month Ended January 31 $ Cost of goods sold: $ $ Operating income $ b. Prepare an income statement using variable costing. Townsend Co. Variable Costing Income Statement For the Month Ended January 31 $ Variable cost of goods sold: $ $ $ Fixed costs: $ Operating income $

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On January 1 of the current year, Townsend Co. commenced operations. It operated its plant at 100% o...

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