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Prepare an income statement using variable costing

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Question - Following is the revenue and cost data for Barian Ltd. in the manufacturing of luxury shower curtains for the year ended December 31, 2020:

Variable manufacturing costs $30 per curtain

Fixed manufacturing overhead $65,600

Variable selling and administrative expenses $6 per curtain

Fixed selling and administrative expenses $180,500

Selling price $82 per curtain

Units produced and sold 8,200

Required -

1. Prepare an income statement using absorption costing.

2. Prepare an income statement using variable costing.

Reference no: EM133169998

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