eBook Print Item Appliance Apps has the following costs associated with its production and sale of devices that allow appliances to receive commands from cell phones. Beginning Inventory 0 Units...

Extracted text: Prepare an income statement under the absorption method. If an amount box does not require an entry, leave it blank. Appliance Apps Income Statement: Absorption Sales $ 2,803,200 Cost of Goods Sold: Beginning Inventory 1,900,800 X Cost of Goods Manufactured 380,160 | Х Cost of Goods Available for Sale 1,520,640 X Ending Inventory 1,282,560 Total Cost of Goods Sold Gross Profit Sales and Administrative Expenses: Variable Fixed Total Fixed Sales and Administrative Expenses Net Operating Income


Extracted text: Beginning Inventory Cost of Goods Manufactured $ Cost of Goods Available for Sale Ending Inventory Total Cost of Goods Sold Gross Contribution Margin Sales and Administrative Expenses: Variable Contribution Margin Fixed Sales and Administrative Expenses Fixed Manufacturing Total Fixed Sales and Administrative Expenses Net Operating Income Feedback Prepare a reconciliation between the two statements. Reconciliation Net Income under Variable Costing Add: Fixed Manufacturing Overhead Deferred Net Income under Absorption