.The following information pertains to the first year of operation for Crystal Cold Coolers Inc.:
Number of units produced 3,200
Number of units sold 2,500
Unit sales price $ 345
Direct materials per unit $ 50
Direct labor per unit $ 50
Variable manufacturing overhead per unit $ 15
Fixed manufacturing overhead per unit ($256,000/3,200 units) $ 80
Total variable selling expenses ($10 per unit sold) $ 25,000
Total fixed general and administrative expenses $ 58,000
Required:
Prepare Crystal Cold’s full absorption costing income statement and variable costing income statement for the year.