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The annual data that follow pertain to Escobar's Eyewear, a manufacturer of swimming goggles. (Escobar's...

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Accounting

The annual data that follow pertain to Escobar's Eyewear, a manufacturer of swimming goggles. (Escobar's Eyewear had no beginning Finished Goods Inventory in January.)
Chew the data
Read the requirements.
Requirement 1. Prepare both conventional (absorption costing) and contribution margin (variable costing) income statements for Escobar's Eyewear for the year ended December 31.(Round intermediary calculations to the nearest cent)
Begin by preparing Escobar's Eyewear's conventional (absorption costing) income statement for the year ended December 31.
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