Variable and Absorption Costing-Service Company Jensen's Tailoring provides custom tailoring services. After the company's first year of operations, its owner prepared the following summarized data report for 2016
Sales (500 completed jobs)$150,000
Tailoring costs (550 jobs)
Direct labor70,500
Manufacturing overhead
Variable18,000
Fixed13,500
Operating expenses
Variable8,400
Fixed8,700
Required:
Prepare an income statement based on full absorption costing