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Posey Manufacturing has the following cost information available for the most current year. Direct Material...

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Accounting

Posey Manufacturing has the following cost information available for the most current year. Direct Material $6.00 per unit Direct Labor 4.00 per unit Variable man overhead 2.00 per unit Variable S&A costs 1.00 per unit Fix man overhead 80,000 Fixed S&A costs 25,000 During the year, Posey produced 12,500 units, out of which 11,000 were sold for $60 each.

Required:

Produce an income statement using absorption costing

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