Variable costing income statements [15—25 minutes]
Refresh Ade produced 12,000 cases of powdered drink mix and sold 1 0,000 cases in April 2009. The sale price was $27, variable costs were $10 per case ($8 manufacturing and $2 selling and administrative), and total fixed costs were $45,000 ($35,000 manufacturing and $10,000 selling and administrative). The company had no beginning inventory.
Requirement
1. Prepare the April income statement using variable costing.
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