Absorption coating and variable costing income statements

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Reference no: EM13911888

Rey Company's single product sells at a price of $216 per unit. Data for its single product for its first year of operations follow. Prepare an income statement for the year assuming (a) absorption costing and (variable costing)

Direct Materials $20 per unit

Direct Labor. $28 per unit

Overhead cost

Variable overhead $6 per unit

Fixed overhead per yr. $160,0000 per year

Selling and administrative expenses

Variable. $18 per unit

Fixed. $200,000 per year

Units produced (and sold). $20, 000 units

Reference no: EM13911888

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