Problem 19-7A (Part Level Submission) Jackson Company produces plastic that is u

Question

Problem 19-7A (Part Level Submission) 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 4,000 tons of plastic and sold 3,100 tons. In 2017, the producticn and sales results were exactly reversed. In each year, the selling price per ton was $2,1 o variable manufac unng costs were 189 of the sales price of units produced variable sel ng expenses were 9% of the sel ng price o units sold fixed ar fact ng costs ere s2,900,000 and fi ed administrative expenses were s530,000 Prepare income statements for each year using variable costing. JACKSON COMPANY

Explanation / Answer

378.00

ABSORBTION COSTING:

Reconciliation:

Unit cost under variable costing Variable manufacturing overhead (2100*0.18)

378.00

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