Advance Products, Inc., has just organized a new division to manufacture and sell specially designed tables using select hardwoods for personal computers. The division Solution Required: Prepare an income statement for the month using absorption costing. (Input all amounts as positive values except losses which should be indicated by a minus sign. Omit the \"$\" sign in your response.) Prepare a contribution format income statement for the month using variable costing. (Input all amounts as positive values except losses which should be indicated by a minus sign. Omit the \"$\" sign in your response.) 5. Reconcile the absorption costing and variable costing net operating incomes in (2) and (3) above. (Loss amounts and a mounts to be deducted should be indicated with a minus sign. Omit the \"$\" sign in your response.) .

1. Advance Products, Inc., has just organized a new division to manufacture and sell specially
designed tables using select hardwoods for personal computers. The division
Advance Products, Inc., has just organized a new division to manufacture and sell specially
designed tables using select hardwoods for personal computers. The division
Solution
Required:
Prepare an income statement for the month using absorption costing. (Input all amounts as
positive values except losses which should be indicated by a minus sign. Omit the "$" sign
in your response.)
Prepare a contribution format income statement for the month using variable costing. (Input all
amounts as positive values except losses which should be indicated by a minus sign. Omit
the "$" sign in your response.)
5.
Reconcile the absorption costing and variable costing net operating incomes in (2) and (3) above.
(Loss amounts and a mounts to be deducted should be indicated with a minus sign. Omit
the "$" sign in your response.)
1. Compute the unit product cost under absorption costing and variable costing.