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  3. prepare income statements for each year using abso

Prepare income statements for each year using absorption costing. Please and thank you! ...

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Accounting

Prepare income statements for each year using absorption costing. Please and thank you!
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Jackson Company produces plastic that is used for injection-molding applications such as gears for small motors. In 2019, the first year of operations, Jackson produced 5,700 tons of plastic and sold 4,275 tons. In 2020 , the production and sales results were exactly reversed. In each year, the selling price per ton was $2,000, variable manufacturing costs were 18% of the sales price of units produced, variable selling expenses were 9% of the selling price of units sold, fixed manufacturing costs were $3,762,000, and fixed administrative expenses were $550,000. (a) Prepare income statements for each year using variable costing

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