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Prepare an income statement using absorption costing

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Question - On January 1 of the current year, Townsend Co. commenced operations. It operated its plant at 100% of capacity during January. The following data summarized the results for January:

Sales (42,000)

Production cost: (for 50,000 Unit)

Variable 575000

Fixed 80,000

Total 655,000

Selling and administrative expense:

Variable 35,000

Fixed 10,500

Total 45,500

Required - How to prepare an income statement using absorption costing using production cost per unit $13?

Reference no: EM133187651

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