Absorption and Variable Costing Income Statements for Two Months and Analysis During the first month of operations ended July 31, Head Gear Inc. manufactured 33,900 hats, of which 32,200 were sold. Operating data for the month are summarized as follows: Sales $296,240 Manufacturing costs: Direct materials $176,280 Direct labor 47,460 Variable manufacturing cost 20,340 Fixed manufacturing cost 20,340 264,420 Selling and administrative expenses: Variable $16,100 Fixced 11.750 27,850 During August. Head Gear Inc. manufactured 30,500 hats and sold 32.200 hats. Operating data for August are summanized as follows Sales $296.240 Manufacturing costs: Direct materials s158.600 Direct labor 42.700 Variable manufacturing cost 18.300 20,340 239,940 Foced manufacturing cost

Absorption and Variable Costing Income Statements for Two Months and Analysis During the first month of operations ended July 31, Head Gear Inc. manufactured 33,900 hats, of which 32,200 were sold. Operating data for the month are summarized as follows: Sales $296,240 Manufacturing costs: Direct materials $176,280 Direct labor 47,460 Variable manufacturing cost 20,340 Fixed manufacturing cost 20,340 264,420 Selling and administrative expenses: Variable $16,100 Fixced 11.750 27,850 During August. Head Gear Inc. manufactured 30,500 hats and sold 32.200 hats. Operating data for August are summanized as follows Sales $296.240 Manufacturing costs: Direct materials s158.600 Direct labor 42.700 Variable manufacturing cost 18.300 20,340 239,940 Foced manufacturing cost

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Description: Absorption and Variable Costing Income Statements for Two Months and AnalysisDuring the first month of operations ended July 31, Head Gear Inc. manufactured 33,900 hats, of which 32,200 vwere sold. Operating data for the month are summarized as foll

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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