Income statement preparation by absorption

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Reference no: EM1315827

Income statement preparation by Absorption, Variable Costing.

Updike Inc. has the following information for its product, Rabbit Redux:

Units produced this period - 1000

Direct Material - $10 per unit

Direct Labor - $5 per unit

Variable Manufacturing Overhead - $20 per unit

Variable Selling and Administrative - $2 per unit

Total Fixed Manufacturing Overhead - $10,000

Total Fixed Selling and Administrative - $15,000

Sales price per unit - $100

Units Sold - 800

Inventory Method - FIFO

Reference no: EM1315827

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