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Prepare an absorption costing income statement

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Reference no: EM132930983

Question - Thornton Manufacturing Company makes a product that sells for $75.50 per unit. Manufacturing costs for the product amount to $25.60 per unit variable, and $64,500 fixed. During the current accounting period, Thornton made 3,000 units of the product and sold 2,300 units. Selling and administrative expenses were zero.

Required -

Prepare an absorption costing income statement.

Prepare a variable costing income statement.

Reference no: EM132930983

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