The following data is related to sales and production of the Welch Corporation for last year.

Required:
1. Prepare an income statement for last year using absorption costing.
2. Calculate the value of the ending inventory using absorption costing.
3. Prepare an income statement for last year using variable costing.
4. Calculate the value of the ending inventory using variable costing.

Question

The following data is related to sales and production of the Welch Corporation for last year.
 
 Required:
1. Prepare an income statement for last year using absorption costing.
2. Calculate the value of the ending inventory using absorption costing.
3. Prepare an income statement for last year using variable costing.
4. Calculate the value of the ending inventory using variable costing.

Quizplus · Accepted Answer

The Answer of The following data is related to sales and production of the Welch Corporation for last year.
 
 Required:
1. Prepare an income statement for last year using absorption costing.
2. Calculate the value of the ending inventory using absorption costing.
3. Prepare an income statement for last year using variable costing.
4. Calculate the value of the ending inventory using variable costing.

The Following Data Is Related to Sales and Production of the Welch