Daffy Duck Enterprise produces prenatal vitamins at its factory. The following information relates to the production of the vitamins for the period ending 31 December 2020.

Production Sales

(Units) (Units)

Budgeted 15,000 14,500

Actual 16,000 15,500

Budgeted Actual

Fixed production cost $150,000 $156,250

Fixed selling overhead $112,500 $112,500

The fixed production overhead was absorbed at a pre-determined rate per unit produced. One prenatal vitamin was sold for $90. At the beginning of January 2020, there was opening inventory of 875 units valued at $52,500; this includes fixed production overhead of $8,750.

Required:

(a) Prepare a marginal costing income statement for the company. (4 marks)

(b) Prepare an absorption costing income statement for the company. (11 marks)

(c) Reconcile the income under both statements. (2 marks)

(d) Distinguish between variable costing and absorption costing. (3 marks)

That is all i'm given

both budget

Daffy Duck Enterprise produces prenatal vitamins at its factory. The following information relates to the production of the vitamins for the period ending 31 December 2020. Production (Units) 15,000 16.000 Budgeted Actual Sales (Units) 14,500 15,500 Actual Fixed production cost Fixed selling overhead Budgeted $150.000 $112,500 $156, 250 $112.500 The fixed production overhead was absorbed at a pre-determined rate per unit produced. One prenatal vitamin was sold for $90. At the beginning of January 2020, there was opening inventory of 875 units valued at $52,500; this includes fixed production overhead of $8,750. Required: (a) Prepare a marginal costing income statement for the company. (4 marks) (b) Prepare an absorption costing Income statement for the company. (11 marks) (c) Reconcile the income under both statements. (2 marks) (3 marks) (a) Distinguish between variable costing and absorption costing. Daffy Duck Enterprise produces prenatal vitamins at its factory. The following information relates to the production of the vitamins for the period ending 31 December 2020. Production (Units) 15,000 16.000 Budgeted Actual Sales (Units) 14,500 15,500 Actual Fixed production cost Fixed selling overhead Budgeted $150.000 $112,500 $156, 250 $112.500 The fixed production overhead was absorbed at a pre-determined rate per unit produced. One prenatal vitamin was sold for $90. At the beginning of January 2020, there was opening inventory of 875 units valued at $52,500; this includes fixed production overhead of $8,750. Required: (a) Prepare a marginal costing income statement for the company. (4 marks) (b) Prepare an absorption costing Income statement for the company. (11 marks) (c) Reconcile the income under both statements. (2 marks) (3 marks) (a) Distinguish between variable costing and absorption costing