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Prepare comparative income statements for each month

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Question - The Tijama Manufacturing Company has determined the cost of manufacturing a unit of product to be as follows, based onormal production of 50,000 units per year:

Direct materials $20.00

Direct labor 15.00

Variable factory overhead 10.00 $45.00

Fixed factory overhead 12.00

$57.00

Operating statistics for the month of August and September include

August September

Units produced 4,200 4,000

Units sold 3,500 4,200

Selling and administrative expenses $25,000 $35,000

The selling price is $70 per unit. There were no inventories on

August 1, and there is no work in process at September 30.

Prepare comparative income statements for each month under the following methods:

a. Absorption costing method

b. Direct costing method

Reference no: EM132065351

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