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Absorption and Variable Costing Comparisons: Production Equals Sales Assume that Smuckers manufactures and sells 45,000...

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Absorption and Variable Costing Comparisons: Production Equals Sales Assume that Smuckers manufactures and sells 45,000 cases of peanut butter each quarter. The follow- ing data are available for the third quarter of the year. Total fixed manufacturing overhead.. Fixed selling and administrative expenses. Sales price per case. Direct materials per case Direct labor per case Variable manufacturing overhead per case $ 675,000 1,225,000 85 20 10 4 Required a. Compute the cost per case under both absorption costing and variable costing. b. Compute net income under both absorption costing and variable costing. c. Reconcile any differences in income. Explain

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