help pls!! with working Prepare income statements for both years under the client's original absorption costing method.>$Year 1SASASYear 2 Sarah is in her first year of work at an accounting services firm after earning her degree. She has become very comfortable preparingfinancial statements for many different companies that use standard costing within their absorption costing systems. However, oneclient now needs not only its usual absorption costing income statements but also financial statements for the same period presentedunder variable costing.Sarah gathers the following information, noting there are no price or efficiency variances in either year. If there is a fixed-MOH volumevariance, company policy is to write it off directly to COGS.Budgeted Information for Both YearsBudgeted productionBudgeted fixed manufacturing costBudgeted fixed operating expenseBudgeted variable operating expenseBudgeted variable manufacturing costBudgeted selling priceBeginning FG Inventory unitsActual units producedSales volumeYear 160,300 units$361,800$483,000$4$23$50Year 22,70056,200 60,30053,50061,400per unitper unitper unit

Name: help pls!! with working Prepare income statements for both years unde
Uploaded: 2024-03-20T06:32:49.000Z
Channel: Bartleby
Description: help pls!! with working Prepare income statements for both years under the client's original absorption costing method.>$Year 1SASASYear 2 Sarah is in her first year of work at an accounting services firm after earning her degree. She has become ver