Dion Company reports the absorption costing income statement below for May. The company began the month with no finished goods inventory. Dion produced 20,000 units, and 2,000 units remain in ending finished goods inventory for May. Fixed overhead was
$50,000
. Variable selling and administration expenses were
$30,000
and fixed selling and administrative expenses were
$10,000
. Prepare an income statement using variable costing. Answer is complete but not entirely correct.

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Dion Company reports the absorption costing income statement below for May. The company began the month with no finished goods inventory. Dion produced 20,000 units, and 2,000 units remain in ending finished goods inventory for May. Fixed overhead was

$50,000

. Variable selling and administration expenses were

$30,000

and fixed selling and administrative expenses were

$10,000

. Prepare an income statement using variable costing. Answer is complete but not entirely correct.

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