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Problem 10-3 Absorption Costing versus Variable Costing Joshua Company has determined the following selling price...

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Accounting

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Problem 10-3 Absorption Costing versus Variable Costing Joshua Company has determined the following selling price and manufacturing cost per unit based on normal production of 72,000 units per year: Selling price per unit Variable cost per unit: Direct labor.... Variable cost per unit Fixed costs: Fixed factory overhead per year........ Fixed selling and administrative expense per year 10 $ 360,000 48,000 Month October November Units Produced 6,000 1,000 8,000 Units Sold 3,000 4,000 6,000 October has no beginning inventories. Required: Prepare comparative income statements, including a comparative schedule of cost of goods sold, for each of these three months in 2016 under each of the following: 1. Absorption costing (include under- or overapplied overhead) 2. Variable costing If an amount box does not require an entry, leave it blank or enter "O

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