Conlon Enterprises reports the following information about resources.     Cost Driver Rate Cost Driver Volume Resources used           Setups $ 310 per run 365 runs Clerical   50 per page 1,300 pages typed Resources supplied           Setups $ 117,050       Clerical   80,300         Sales revenue totaled $255,000. Required: a. Prepare a traditional income statement. b. Prepare an activity-based income statement.

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Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit.  Overhead expenses depend upon the nature of the business operations.