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Question: Montier Corporation produces one product. Its cost includes direct materials ($10 per unit), direct labor ($8 per unit), variable overhead ($5 per unit), fixed manufacturing ($225,000), and fixed selling and administrative ($30,000). In October 2014. Montier produced 25,000 units and sold 20,000 at $50 each.

Instructions: a. Prepare an absorption costing income statement.

b. Prepare a variable costing income statement.

c. Explain the difference In net income in the two income statements

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92642378

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