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Problem 19-7A Jackson Company produces plastic that is used for injection-molding applications such as gears for small motors. In 2016, the first year of operations, Jackson produced 3,500 tons of plastic and sold 3,150 tons. In 2017, the production and sales results were exactly reversed. In each year, the selling price per ton was $2,200, variable manufacturing costs were 18% of the sales price of units produced, variable selling expenses were 9% of the selling price of units sold, fixed manufacturing costs were $2,555,000, and fixed administrative expenses were $590,000 Prepare income statements for each year using variable costing

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Jackson company Income statement For the year ended December 31,2016 Variable costin sales 3150 2200 variable cost of goods sJackson company Income statement For the year ended December 31,2016 Absorbtion costing sales cost of goods sold Inventory, JReconciliation variable costing net income fixed manufacturing overhead expensed with variable costing Less fixed manufacturi

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