Question - Given are the data of Coopers Ltd for the year ended 30th June 2018.
Opening stock (1st July 2017) 5,000 units.
Units produced 30,000 Units.
Units sold 33,000 Units.
Closing stock (30th June, 2018) 2,000 Units.
Closing Stock $14,140
Opening Stock $36,000
Variable Costs $177,000
Selling Cost:
Variable Cost $170,000
Fixed $25,000
Selling price per unit. $20
Required: Using Excel Spreadsheet prepare Income Statement under Absorption Costing Method.