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    How do you prepare a variable costing income statement for Rafael Corp?

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    During 2005 Rafael Corp. produced 40,000 units and sold 30,000 units for $12 per unit. Variable manufacturing costs were $4 per unit. Annual fixed manufacturing overhead was $80,000 ($2 per unit). Variable selling and administrative costs were $1 per unit sold, and fixed selling and administrative expenses were $10,000.

    Prepare a variable costing income statement.

    © BrainMass Inc. brainmass.com June 3, 2020, 11:10 pm ad1c9bdddf
    https://brainmass.com/business/income-statement/preparing-variable-costing-income-statement-rafael-corp-267144

    Solution Summary

    The attached excel sheet in the solution includes the variable costing income statement of Rafael Corporation along with step by step calculations involved.

    $2.19

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