Company XYZ operates with a single product. The following simple income statement relates to last year when sales units totaled 27,000.        Variable Costing   Total Per Unit Sales  $    513,000.00  $         19.00 Variable COGS  $    221,400.00  $           8.20 Variable S&A  $       54,000.00  $           2.00    $    237,600.00  $           8.80 Fixed Mfg Overhead  $    154,000.00   Fixed S&A Expense  $       42,000.00   Net Op Income  $       41,600.00               A. Company XYZ unit production for the year totaled 28,000 units. Prepare a GAAP Income statement for XYZ. Reconcile and differences between the Variable Costing and GAAP Net Operating Incomes.

FINANCIAL ACCOUNTING
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Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Company XYZ operates with a single product. The following simple income statement relates to last year when sales units totaled 27,000
     
Variable Costing
  Total Per Unit
Sales  $    513,000.00  $         19.00
Variable COGS  $    221,400.00  $           8.20
Variable S&A  $       54,000.00  $           2.00
   $    237,600.00  $           8.80
Fixed Mfg Overhead  $    154,000.00  
Fixed S&A Expense  $       42,000.00  
Net Op Income  $       41,600.00  
     
     

A. Company XYZ unit production for the year totaled 28,000 units. Prepare a GAAP Income statement for XYZ.

Reconcile and differences between the Variable Costing and GAAP Net Operating Incomes. 

 
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