The following information relates to vice versa ventures

Reference no: EM13610885

The following information relates to Vice Versa Ventures for calendar year 20XX, the company's first year of operations: Units produced 20,000 Units sold 17,000 Selling price per unit $35 Direct material per unit $5 Direct labor per unit $5 Variable manufacturing overhead per unit $2 Variable selling cost per unit $3 Annual fixed manufacturing overhead $160,000 Annual fixed selling and administrative expense $80,000

(a) Prepare an income statement using full costing.

(b) Prepare an income statement using variable costing.

Reference no: EM13610885

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