Nelter Corporation, which has only one product, has provided the following data concerning its most recent...

Nelter Corporation, which has only one product, has provided the following data concerning its most recent month of operations:

Selling price $ 128 Units in beginning inventory 345 Units produced 6,880 Units sold 6,830 Units in ending inventory 395 Variable costs per unit: Direct materials $ 42 Direct labor $ 23 Variable manufacturing overhead $ 3 Variable selling and administrative expense $ 19 Fixed costs: Fixed manufacturing overhead $ 165,120 Fixed selling and administrative expense $ 95,620 The company produces the same number of units every month, although the sales in units vary from month to month. The company's variable costs per unit and total fixed costs have been constant from month to month.

Required: a. Prepare a contribution format income statement for the month using variable costing.

b. Prepare an income statement for the month using absorption costing.

Expert Solution

ekkarill92 answered 2 years ago

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Nelter Corporation, which has only one product, has provided the following data concerning its most recent...

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