Reference no: EM132569922
Bio Tech manufactures and sells surgical mask. It produced and sold 30,000 masks. The following represent information available for the year ended December 3, 2016.
$
Selling Price per unit 25
Direct Materials cost per unit 6
Direct wages per hour 3
Variable manufacturing overhead per unit 2
Variable selling Expenses per unit 4
Fixed manufacturing overhead 160,000
Fixed Admin & distribution 50,000
Required:
Question A. Create income statements for the year ended Dec 31, 2018 based on both marginal and absorption costing. ()
Question B. Outline the main difference between a marginal costing statement and the absorption costing statement. State what contributes to a difference in profits under both techniques.
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