Absorption and Variable Costing Income Statements During the first month of operations ended July 31, YoSan Inc. manufactured 2,400 flat panel televisions, of which 2,000 were sold. Operating data for the month are summarized as follows: Sales $2,150,000 Manufacturing costs: Direct materials Direct labor Variable manufacturing cost Fixed manufacturing cost Selling and administrative expenses: $960,000 420,000 156,000 288,000 1,824,000 Variable $204,000 Fixed 300,000 96,000 Required: Variable Costing Income Statement For the Month Ended July 31, 2016 Sales v 2,150,000 Variable cost of goods sold: Variable selling and administrative expenses x 288,000 x Fixed manufacturing costs x 96,000 x Total Variable cost of goods sold v 282,000 x 288,000 96,000 Fixed costs:

Absorption and Variable Costing Income Statements During the first month of operations ended July 31, YoSan Inc. manufactured 2,400 flat panel televisions, of which 2,000 were sold. Operating data for the month are summarized as follows: Sales $2,150,000 Manufacturing costs: Direct materials Direct labor Variable manufacturing cost Fixed manufacturing cost Selling and administrative expenses: $960,000 420,000 156,000 288,000 1,824,000 Variable $204,000 Fixed 300,000 96,000 Required: Variable Costing Income Statement For the Month Ended July 31, 2016 Sales v 2,150,000 Variable cost of goods sold: Variable selling and administrative expenses x 288,000 x Fixed manufacturing costs x 96,000 x Total Variable cost of goods sold v 282,000 x 288,000 96,000 Fixed costs:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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