Solomon Glass Company makes stained glass lamps. Each lamp that it sells for $316.90 per...
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Solomon Glass Company makes stained glass lamps. Each lamp that it sells for $316.90 per lamp requires $17.00 of direct materials and $70.40 of direct labor. Fixed overhead costs are expected to be $190,500 per year. Solomon Glass expects to sell 1,000 lamps during the coming year. Selling and administrative expenses were zero. Required a. Prepare income statements using absorption costing, assuming that Solomon Glass makes 1,000, 1,250, and 1,500 lamps during the year. b. Prepare income statements using variable costing, assuming that Solomon Glass makes 1,000, 1,250, and 1,500 lamps during the year. Complete this question by entering your answers in the tabs below. Required A Required B Prepare income statements using absorption costing, assuming that Solomon Glass makes 1,000, 1,250, and 1,500 lamps during the year. (Do not round intermediate calculations.) SOLOMON GLASS COMPANY Income Statements-Absorption Costing Units Produced 1,000 1,250 1,500 Required A Required B> Complete this question by entering your answers in the tabs below. Required A Required B Prepare income statements using variable costing, assuming that Solomon Glass makes 1,000, 1,250, and 1,500 lamps during the year. (Do not round intermediate calculations.) SOLOMON GLASS COMPANY Income Statements - Variable Costing Units Produced 1,000 1,250 1,500 Required A Required
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