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Prepare an absorption costing income statement.

05 / 03 / 2018 Assignment

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The following is the current variable costing income statement for Dolly Corporation.

Sales (5,000 units)
$100,000
Variable expenses Cost of goods sold $35,000
Selling (10% of sales) $10,000 $45,000
Contribution margin
$55,000
Fixed expenses

Manufacturing overhead $24,000
Administrative $12,500 $36,500
Operating income
$18,500

Below is the following information on operations for Dolly Corporation.

Beginning inventory (units) 0
Units produced (units) 6,000
Manufacturing costs
Direct labor (per unit) $5.00
Direct materials (per unit) $2.30
Variable overhead (per unit) $2.40

Required:
Prepare an absorption costing income statement.


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