b. Reconcile the variable costing income from operations of $357,500 with the absorption costing income from operations determined in (a).Reconciliation of Variable and Absorption CostingIncomeVariable costing income from operationsAbsorption costing income from operationsDifference Absorption Costing Income StatementOn June 30, the end of the first month of operations, Tudor Manufacturing Co. prepared the following income statement, based on the variable costing concept:Sales (90,000 units)$1,530,000Variable cost of goods sold:Variable cost of goods manufactured (110,000 units x $12 per unit)$1,320,000Less ending inventory (20,000 units x $12 per unit)240,000Variable cost of goods sold1,080,000Manufacturing margin$450,000Variable selling and administrative expenses15,000Contribution margin$435,000Fixed costs:Fixed manufacturing costs$49,500Fixed selling and administrative expenses28,00077,500Income from operations$357,500a. Prepare an absorption costing income statement. In your computations, round unit costs to two decimal places and round final answers to the nearest dollar.Tudor Manufacturing Co.Income Statement-Absorption CostingFor the Month Ended June 30SalesCost of goods sold:Cost of goods manufacturedLess ending inventoryCost of goods soldGross profitSelling and administrative expensesIncome from operations

Name: b. Reconcile the variable costing income from operations of $357,500
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: b. Reconcile the variable costing income from operations of $357,500 with the absorption costing income from operations determined in (a).Reconciliation of Variable and Absorption CostingIncomeVariable costing income from operationsAbsorption costin