Prepare an income statement under (1) absorption costing, (2) variable costing, and (3) throughput costing. June Company's actual data for 201A are given as follows:Units producedUnits soldSelling price per unitDirect material costs25,00024,000P20030Direct labor20Variable manufacturing overheadVariable selling costsFixed manufacturing costs6020P600,000Fixed administrative costs300,000Required:Prepare an income statement under (1) absorption costing, (2) variable costing, and (3) throughput costing.

Throughput Costing:-It is also known as "Super variable costing". This costing method considers only…

June Company's actual data for 201A are given as follows: Units produced 25,000 Units sold 24,000 Selling price per unit P200 Direct material costs 30 Direct labor 20 Variable manufacturing overhead Variable selling costs Fixed manufacturing costs 60 20 P600,000 Fixed administrative costs 300,000 Required: Prepare an income statement under (1) absorption costing, (2) variable costing, and (3) throughput costing.

June Company's actual data for 201A are given as follows: Units produced 25,000 Units sold 24,000 Selling price per unit P200 Direct material costs 30 Direct labor 20 Variable manufacturing overhead Variable selling costs Fixed manufacturing costs 60 20 P600,000 Fixed administrative costs 300,000 Required: Prepare an income statement under (1) absorption costing, (2) variable costing, and (3) throughput costing.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter6: Activity-based, Variable, And Absorption Costing

Section: Chapter Questions

Problem 14PB: Summarized data for Backdraft Co. for its first year of operations are as follows: A. Prepare an...

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Summarized data for Backdraft Co. for its first year of operations are as follows: A. Prepare an income statement under absorption costing B. Prepare an income statement under variable costing
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