Absorption costing versus variable costing Greenville Corp. has determined the followin...

Absorption costing versus variable costing

Greenville Corp. has determined the following selling price and manufacturing cost per unit based on normal production of 48,000 units per year:

January 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 2013 under each of the following:

1. Absorption costing (include under- or overapplied overhead).

2. Variable costing.