Please do not give solution in image format thanku During the first month of operations ended July 31, YoSan Inc. manufactured 11,400 flat panel televisions, of which 10,500 were sold.Sales$1,470,000Manufacturing costs:Direct materialsDirect laborVariable manufacturing costFixed manufacturing costSelling and administrative expenses:VariableFixedRequired:Cost of goods sold:$752,400228,000193,80091,200Variable cost of goods sold:$115,50053,1001. Prepare an income statement based on the absorption costing concept.YoSan Inc.Absorption Costing Income StatementFor the Month Ended July 31Line Item Description Amount AmountFixed costs:1,265,4002. Prepare an income statement based on the variable costing concept.YoSan Inc.Variable Costing Income StatementFor the Month Ended July 31Line Item Description Amount Amount168,6000000 00

Name: Please do not give solution in image format thanku During the first mo
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Description: Please do not give solution in image format thanku During the first month of operations ended July 31, YoSan Inc. manufactured 11,400 flat panel televisions, of which 10,500 were sold.Sales$1,470,000Manufacturing costs:Direct materialsDirect laborVar

Unit product cost under Variable costing consist of direct materials, direct labor and variable…

Business

Accounting

ales Manufacturing costs: Direct materials Direct labor Variable manufacturing cost Fixed manufacturing cost elling and administrative expenses: Variable Fixed tequired: Cost of goods sold: Variable cost of goods sold: $752,400 228,000 193,800 91,200 Fixed costs: $115,500 53,100 L. Prepare an income statement based on the absorption costing concept. YoSan Inc. Absorption Costing Income Statement For the Month Ended July 31 Line Item Description Amount Amount 00 $1,470,000 2. Prepare an income statement based on the variable costing concept. YoSan Inc. Variable Costing Income Statement For the Month Ended July 31 Line Item Description Amount Amount 1,265,400 0000 00 168,600

ales Manufacturing costs: Direct materials Direct labor Variable manufacturing cost Fixed manufacturing cost elling and administrative expenses: Variable Fixed tequired: Cost of goods sold: Variable cost of goods sold: $752,400 228,000 193,800 91,200 Fixed costs: $115,500 53,100 L. Prepare an income statement based on the absorption costing concept. YoSan Inc. Absorption Costing Income Statement For the Month Ended July 31 Line Item Description Amount Amount 00 $1,470,000 2. Prepare an income statement based on the variable costing concept. YoSan Inc. Variable Costing Income Statement For the Month Ended July 31 Line Item Description Amount Amount 1,265,400 0000 00 168,600

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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