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What is the income statement for the upcoming year

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Reference no: EM132753343

Question - Allen Manufacturing manufactures a single product. Cost, sales, and production information for the company and its single product is as follows:

Sales price per unit $51

Variable manufacturing costs per unit manufactured (DM, DL and variable MOH) $33

Variable operating expenses per unit sold $1

Fixed manufacturing overhead (MOH) in total for the year $253,000

Fixed operating expenses in total for the year $53,000

Units manufactured during the year 23,000 units

Units sold during the year 20,500 units

Required -

What is the income statement for the upcoming year using variable costing?

What is the income statement for the upcoming year using absorption costing?

Reference no: EM132753343

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