Brief Exercise 3-32 Absorption-Costing Income Statement Refer to the data for Beyta Company above. Required: 1. Calculate the cost of goods sold under absorption costing. 2. Prepare an income statement using absorption costing. Use the following information for Brief Exercises 3-32 and 3-33: During the most recent year, Beyta Company had the following data:

1. During the first month of operations ended January 31, Wardner Apparel produced 80,000 designer cowboy hats, of which 72,000 were sold. Operating data for the month are summarized as follows: Sales Category Manufacturing Costs: Direct Materials Direct Labor Variable Manufacturing Costs Fixed Manufacturing Costs Total Manufacturing Costs Sales Selling and Admin Expenses: Variable Fixed Total Selling and Admin Expenses Category Manufacturing Costs: Direct Materials Direct Labor Variable Manufacturing Costs Fixed Manufacturing Costs Total Manufacturing Costs Dollar Amount During February, Wardner Apparel produced 64,000 designer cowboy hats and sold 72,000 cowboy hats. Operating data for February are summarized as follows: Selling and Admin Expenses: Variable Fixed Total Selling and Admin Expenses $1,500,000 1,480,000 220,000 420,000 144,000 35,000 Dollar Amount 1,350,000 1,200,000 190,000 420,000 Subtotals/Totals 144,000 35,000 $4,560,000 3,620,000 179,000 Subtotals/Totals $4,560,000…

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