Solution-Prepare a reconciliation of the difference each

Prepare a reconciliation of the difference each year

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Reference no: EM133064582

Question - Yale Company manufactures hair brushes that sell at wholesale for $3 per unit. The company had no beginning inventory in the prior year. These data summarize the current and prior year operations:

	Prior Year	Current Year
Sales (000s)	1,800 units	2,200 units
Production (000s)	2,000 units	2,000 units
Production cost Factory-variable (per unit)	$0.60	$0.60
-fixed (000s)	$1,000	$1,000
Marketing-variable (per unit)	$0.40	$0.40
Administrative-fixed (000s)	$500	$500

Required -

1. Prepare an income statement for each year based on full costing.

2. Prepare an income statement for each year based on variable costing.

3. Prepare a reconciliation of the difference each year in the operating income resulting from using the full costing method and variable costing method.

Reference no: EM133064582

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Prepare a reconciliation of the difference each year

Reference no: EM133064582

Reference no: EM133064582

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