Homework Help is Here – Start Your Trial Now!
Business
Accounting
Contribution margin Fixed costs: Fixed manufacturing costs Fixed selling and administrative expenses Total fixed costs Operating income $46,500 41,400 Cost of goods sold: $193,200 (87,900) $105,300 Prepare an income statement under absorption costing. Round all final answers to whole dollars. Maryville Equipment Company Absorption Costing Income Statement For the Month Ended October 31 Line Item Description Amount Amount

Contribution margin Fixed costs: Fixed manufacturing costs Fixed selling and administrative expenses Total fixed costs Operating income $46,500 41,400 Cost of goods sold: $193,200 (87,900) $105,300 Prepare an income statement under absorption costing. Round all final answers to whole dollars. Maryville Equipment Company Absorption Costing Income Statement For the Month Ended October 31 Line Item Description Amount Amount

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Please do not give solution in image format thanku 

Absorption Costing Income Statement On October 31, the end of the first month of operations, Maryville Equipment Company prepared the following income statement, based on the variable costing concept: Maryville Equipment Company Variable Costing Income Statement For the Month Ended October 31 Sales (13,800 units) Variable cost of goods sold: Variable cost of goods manufactured Inventory, October 31 (1,700 units) Total variable cost of goods sold Manufacturing margin Variable selling and administrative expenses Contribution margin Fixed costs: Fixed manufacturing costs Fixed selling and administrative expenses Total fixed costs Operating income $263,500 (28,900) $46,500 41,400 $579,600 (234,600) $345,000 (151.800) $193,200 (87,900) $105,300
Transcribed Image Text:Absorption Costing Income Statement On October 31, the end of the first month of operations, Maryville Equipment Company prepared the following income statement, based on the variable costing concept: Maryville Equipment Company Variable Costing Income Statement For the Month Ended October 31 Sales (13,800 units) Variable cost of goods sold: Variable cost of goods manufactured Inventory, October 31 (1,700 units) Total variable cost of goods sold Manufacturing margin Variable selling and administrative expenses Contribution margin Fixed costs: Fixed manufacturing costs Fixed selling and administrative expenses Total fixed costs Operating income $263,500 (28,900) $46,500 41,400 $579,600 (234,600) $345,000 (151.800) $193,200 (87,900) $105,300
Contribution margin Fixed costs: Fixed manufacturing costs Fixed selling and administrative expenses Total fixed costs Operating income $46,500 41,400 Cost of goods sold: $193,200 (87,900) $105,300 Prepare an income statement under absorption costing. Round all final answers to whole dollars. Maryville Equipment Company Absorption Costing Income Statement For the Month Ended October 31 Line Item Description Amount Amount
Transcribed Image Text:Contribution margin Fixed costs: Fixed manufacturing costs Fixed selling and administrative expenses Total fixed costs Operating income $46,500 41,400 Cost of goods sold: $193,200 (87,900) $105,300 Prepare an income statement under absorption costing. Round all final answers to whole dollars. Maryville Equipment Company Absorption Costing Income Statement For the Month Ended October 31 Line Item Description Amount Amount
Expert Solution
steps

Step by step

Solved in 4 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Cost classification
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS