Monster manufacturing company which has only one product

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Reference no: EM13483273

Monster manufacturing company, which has only one product had provided the following data concerning its most recent month of operations

Selling price $190
Units in begining inventory 0
Units produced 9500
Units sold 8000
units in ending inventory 1500

Variable cost per unit:

Direct materials $65
Direct labor $39
Variable manufacturing overhead $2.5
Variable selling and admind $11

Fixed costs:

Fixed manufacturing overhead $320,000
Fixed selling and admin $ 123,000

Required

A. Prepare an income statment for the month using variable costing method

B. Prepare an income statment for the month using absorption costing method

Reference no: EM13483273

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