The following data pertain to April operations for Josephson Company: Beginning inventory 3,000 Units sold...
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Accounting
The following data pertain to April operations for Josephson Company: Beginning inventory 3,000 Units sold 9,000 Units produced 8,000 Sales price per unit $ 30 Direct manufacturing cost per unit $ 10 Fixed factory overhead-total $40,000 Fixed factory overhead-per unit $ 5 Commercial expense (all fixed) $44,000
Required: a. Prepare an income statement using absorption costing. b. Prepare an income statement using marginal costing. c. Provide computations as well as explain the difference in operating income between the two methods.
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