Sorry MomTattoos produces and sells tattoos that make your parents want to disown you. The...
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Sorry MomTattoos produces and sells tattoos that make your parents want to disown you. The company uses a costing system based on actual costs. Selected accounting and production information for fiscal 2020 is as follows: Net income (under absorption costing) $ 400,000 Sales $3,400,000 Fixed factory overhead $ 600,000 Selling and administrative costs (all costs are fixed) $ 280,000 Net income (under variable costing) $ 310,000 Units produced Sorry Mom Tattoos had no work in process inventory at either the beginning or the end of fiscal 2020. As well, the company did not have any finished goods inventory at the beginning of the fiscal year. atthew Required: A. Calculate the product costs per unit under absorption costing. B. Calculate the product costs per unit under variable costing. C. Calculate the costs of ending invent under absorption costing. world D. Calculate the cost of ending inventory under variable costing
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