See the attached file.
Roofing tile is a major product of Tops Corporation.
sold 88,400 cases of tile
Variable cost of goods sold $$848,640
Variable selling expenses were $152,048
Fixed Administrative expenses were $96,450
Selling price were $18 per case
There were no partially completed jobs in process at the beginning of the year.
Finished Goods Inventory had been used up at the end of the previous year.
1. Prepare the calendar year end income statement for the Tops Corporation using the traditional reporting format.
2. Prepare the calendar year end income statement for the Tops Corporation using the variable costing format.© BrainMass Inc. brainmass.com June 3, 2020, 11:10 pm ad1c9bdddf
Using an Excel spreadsheet, this solution describes reporting under traditional (full absorption) costing versus variable costing methods.