Stonehenge inc a manufactuerer of landscaping blocks began

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Reference no: EM13568687

Stonehenge inc., a manufactuerer of landscaping blocks, began operations on April 1 of the current year. During this time, the company produced 750,000 units and sold 720,000 units at a sale price of $9 per unit. Cost information for this period is shown below.

Production costs
Direct Materials: 1.80 per unit
Direct Labor: .30 per unit
Variable overhead: 495,000 in total
Fixed overhead: 450,000 in total

Non-production costs
Variable selling administrative: 18,000 in total
Fixed selling and administrative: 53,000 in total

a) Prepare Stonehenge's december 31st income statement for current year under absorption costing
b) Prepare stonehenge's december 31st income statement for current year under variable costing.

Reference no: EM13568687

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