Please do not give solution in image format thanku Appliance Apps has the following costs associated with its production and sale of devices that allow appliances to receive commands from cell phones.Beginning InventoryUnits ProducedUnits SoldSelling Price per UnitVariable Sales and Administration ExpensesFixed Sales and Administration ExpensesDirect Material Cost per UnitDirect Labor Cost per UnitVariable Manufacturing Overhead Cost per UnitFixed Manufacturing Overhead Cost per Month $1,019,200Appliance AppsIncome Statement: AbsorptionCost of Goods Sold:0Total Cost of Goods Sold26,00020,800Sales and Administrative Expenses:VariableFixed$146Prepare an income statement under the absorption method. If an amount box does not require an entry, leave it blank.$4$1,014,000$25$11$400000 0000 0.1 Prepare an income statement under the variable costing method. If an amount box does not require an entry, leave it blank.Appliance AppsIncome Statement: VariableCost of Goods Sold:Total Cost of Goods SoldSales and Administrative Expenses:Variable00 00 0000Prepare a reconciliation between the two statements.ReconciliationD

The financial statement is the most important document for any organization. It comprises three main…

Appliance Apps has the following costs associated with its production and sale of devices that allow appliances to receive commands from cell phones. Beginning Inventory Units Produced Units Sold Selling Price per Unit Variable Sales and Administration Expenses Fixed Sales and Administration Expenses Direct Material Cost per Unit 0 26,000 20,800 $146 $4 $1,014,000 Appliance Apps Income Statement: Absorption Cost of Goods Sold: Direct Labor Cost per Unit Variable Manufacturing Overhead Cost per Unit Fixed Manufacturing Overhead Cost per Month $1,019,200 $25 $11 14 Prepare an income statement under the absorption method. If an amount box does not require an entry, leave it blank. D

Appliance Apps has the following costs associated with its production and sale of devices that allow appliances to receive commands from cell phones. Beginning Inventory Units Produced Units Sold Selling Price per Unit Variable Sales and Administration Expenses Fixed Sales and Administration Expenses Direct Material Cost per Unit 0 26,000 20,800 $146 $4 $1,014,000 Appliance Apps Income Statement: Absorption Cost of Goods Sold: Direct Labor Cost per Unit Variable Manufacturing Overhead Cost per Unit Fixed Manufacturing Overhead Cost per Month $1,019,200 $25 $11 14 Prepare an income statement under the absorption method. If an amount box does not require an entry, leave it blank. D

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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