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Kissimmee Paint Co. reported the following data for the month of July. There were no...

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Accounting

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Kissimmee Paint Co. reported the following data for the month of July. There were no beginning inventories and all units were completed (no work in process). Total Cost Number of Units Unit Cost Manufacturing costs Variable Fixed Total $ 15.50 7.00 S 22.50 S 465,000 30,000 210,000 30,000 $ 675,000 Selling and administrative expenses Variable $ 2 per unit sold Fixed $ 39,000 In the month of July, 28,000 of the 30,000 units manufactured were sold at a price of $S0 per unit (a) Prepare a variable costing income statement (b) Prepare an absorption costing income statement (e) Briefly explain why there is a difference in income from operations between the two methods

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