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Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 5,000 rackets and sold 3,900. Each racket was sold at a price of $80. Fixed overhead costs are $60,000 for the year, and fixed selling and administratives costs are $64,200 for the year. The company also reports the following per unit variable costs for the year Direct materials Direct labor Variable overhead Variable selling and administrative expenses Required: Prepare an income statement under variable costing Answer is not complete. Contribution margin ACES INCORPORATED Variable Costing Income Statement Sales Variable expenses Variable cost of goods sold Variable selling and administrative expenses Fixed expenses Fixed selling and administrative costs Fixed overhead 1000 0000 $ 11.70 7.70 4.60 1.00

Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 5,000 rackets and sold 3,900. Each racket was sold at a price of $80. Fixed overhead costs are $60,000 for the year, and fixed selling and administratives costs are $64,200 for the year. The company also reports the following per unit variable costs for the year Direct materials Direct labor Variable overhead Variable selling and administrative expenses Required: Prepare an income statement under variable costing Answer is not complete. Contribution margin ACES INCORPORATED Variable Costing Income Statement Sales Variable expenses Variable cost of goods sold Variable selling and administrative expenses Fixed expenses Fixed selling and administrative costs Fixed overhead 1000 0000 $ 11.70 7.70 4.60 1.00

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter18: Pricing And Profitability Analysis
Section: Chapter Questions
Problem 15E: Flaherty, Inc., has just completed its first year of operations. The unit costs on a normal costing...
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Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 5,000 rackets and sold 3,900 Each racket was sold at a price of $80, Fixed overhead costs are $60,000 for the year, and fixed selling and administrative costs are $64,200 for the year. The company also reports the following per unit variable costs for the year Direct materials Direct labor Variable overhead Variable selling and administrative expenses Required: Prepare an income statement under variable costing Sales Variable expenses Answer is not complete. ACES INCORPORATED Variable Costing Income Statement Variable cost of goods sold Variable selling and administrative expenses Income (loss) Contribution margin Fixed expenses Fixed selling and administrative costs Fixed overhead 0000 0000 $11.70 7.70 4.00 1.00
Transcribed Image Text:Aces Incorporated, a manufacturer of tennis rackets, began operations this year. The company produced 5,000 rackets and sold 3,900 Each racket was sold at a price of $80, Fixed overhead costs are $60,000 for the year, and fixed selling and administrative costs are $64,200 for the year. The company also reports the following per unit variable costs for the year Direct materials Direct labor Variable overhead Variable selling and administrative expenses Required: Prepare an income statement under variable costing Sales Variable expenses Answer is not complete. ACES INCORPORATED Variable Costing Income Statement Variable cost of goods sold Variable selling and administrative expenses Income (loss) Contribution margin Fixed expenses Fixed selling and administrative costs Fixed overhead 0000 0000 $11.70 7.70 4.00 1.00
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