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Question: 1. Hank Company manufactures and sells one product. Sales and production information is contained below.

· Selling price per unit $65

· Variable manufacturing costs per unit produced (DM, DL, and variable MOH) $36

· Variable operating expenses per unit sold $6

· Fixed manufacturing overhead (MOH) in total for the year $216,000

· Fixed operating expenses in total for the year $75,000

· Units produced during the year 18,000

· Units sold during the year 15,000

(a) Prepare the income statement using variable costing.

(b) Prepare the income statement using absorption costing.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92712188

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