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Absorption and Variable Costing Income Statements Sales $1,066,500 Manufacturing costs: Direct materials Direct...

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Accounting

Absorption and Variable Costing Income Statements
Sales
$1,066,500
Manufacturing costs:
Direct materials
Direct labor
Variable manufacturing cost
Fixed manufacturing cost
901,000
Selling and administrative expenses:
Variable
Fixed
Required:
Prepare an income statement based on the absorption costing concept.
YoSan Inc.
Absorption Costing Income Statement
For the Month Ended July 31
Line Item Description Amount Amount
Cost of goods sold:
2. Prepare an income statement based on the variable costing concept.
YoSan Inc.
Variable Costing Income Statement
For the Month Ended July 31
Line Item Description Amount Amount
Variable cost of goods sold:
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