During 2012, Caspar Corporation Produced 50,000 Units and Sold 40,000

Essay

During 2012, Caspar Corporation produced 50,000 units and sold 40,000 for $20 per unit. Variable manufacturing costs were $14 per unit. Annual fixed manufacturing overhead was $120,000 ($2 per unit). Variable selling and administrative costs were $2 per unit sold, and fixed selling and administrative costs were $45,000.
Required:
Prepare an absorption costing income statement for Caspar Corporation.