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6. On January 1 of the current year, Townsend Co. commenced operations. It operated its plant at 100% of capacity during January. The following data summarized the results for January: Production Sales ($20 per unit) Inventory, January 31 Manufacturing costs: Variable Fixed Total Selling and administrative expenses: Variable Fixed Total Units 50,000 42,000 8,000 $575,000 80,000 $655,000 $35,000 10,500 $45,500 Required:Prepare a variable costing income statement using the information above.

6. On January 1 of the current year, Townsend Co. commenced operations. It operated its plant at 100% of capacity during January. The following data summarized the results for January: Production Sales ($20 per unit) Inventory, January 31 Manufacturing costs: Variable Fixed Total Selling and administrative expenses: Variable Fixed Total Units 50,000 42,000 8,000 $575,000 80,000 $655,000 $35,000 10,500 $45,500 Required:Prepare a variable costing income statement using the information above.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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6. On January 1 of the current year, Townsend Co. commenced operations. It operated its plant at 100% of capacity during January. The following data summarized the results for January: Production Sales ($20 per unit) Inventory, January 31 Manufacturing costs: Variable Fixed Total Selling and administrative expenses: Variable Fixed Total Units 50,000 42,000 8,000 $575,000 80,000 $655,000 $ 35,000 10,500 $45,500 Required:Prepare a variable costing income statement using the information above.
Transcribed Image Text:6. On January 1 of the current year, Townsend Co. commenced operations. It operated its plant at 100% of capacity during January. The following data summarized the results for January: Production Sales ($20 per unit) Inventory, January 31 Manufacturing costs: Variable Fixed Total Selling and administrative expenses: Variable Fixed Total Units 50,000 42,000 8,000 $575,000 80,000 $655,000 $ 35,000 10,500 $45,500 Required:Prepare a variable costing income statement using the information above.
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