Exercise 10-41 (Algo) Resources Used versus Resources Supplied (LO 10-5, 6) Tri-State Mill uses a special sander to finish lumber. Data on the sander and its usage follow. Cost Driver Rate Cost Driver Volume Resources used Energy $ 0.90 per machine-hour 7,000 machine-hours Repairs $ 21 per job 600 jobs Resources supplied Energy $ 8,500 Repairs $ 13,600 Sales revenue from finishing totaled $46,000. Required: a. Prepare a traditional income statement. b. Prepare an activity-based income statement.

Exercise 10-41 (Algo) Resources Used versus Resources Supplied (LO 10-5, 6) Tri-State Mill uses a special sander to finish lumber. Data on the sander and its usage follow. Cost Driver Rate Cost Driver Volume Resources used Energy $ 0.90 per machine-hour 7,000 machine-hours Repairs $ 21 per job 600 jobs Resources supplied Energy $ 8,500 Repairs $ 13,600 Sales revenue from finishing totaled $46,000. Required: a. Prepare a traditional income statement. b. Prepare an activity-based income statement.

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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Exercise 10-41 (Algo) Resources Used versus Resources Supplied (LO 10-5, 6)

Tri-State Mill uses a special sander to finish lumber. Data on the sander and its usage follow.

	Cost Driver Rate	Cost Driver Volume
Resources used
Energy	$	0.90	per machine-hour	7,000	machine-hours
Repairs	$	21	per job	600	jobs
Resources supplied
Energy	$	8,500
Repairs	$	13,600

Sales revenue from finishing totaled $46,000.

Required:

a. Prepare a traditional income statement.

b. Prepare an activity-based income statement.

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