Bob's Bistro produces party-sized hoege sandwiches. For next year, Bob's Bistro predicts that $5,000 unts will be produced with the following total costs Direct materials Direct labor Variable overhead Fixed overhead Next year, Bob's Bistro expects to purchase $130,000 of direct materials. Prejected beginning and ending inventories for direct materials and work in process are as follows Direct materials Work in Process Inventory Inventory $7,000 $14,200 $16.200 Beginning thong $6,500 Next year, Bob's Bistro expects to produce $5,000 units and sell 94,300 units at a price of $16.00 each. Beginning invertery of finished goods is $48.500, and ending inventary of finished goods is expected to be $40,000 Total selling expense is projected at $20,000, and total administrative expense is projected at $104,500 Required: 1. Prepare an income statement in good form, Round the percent to four decimal places before converting Bob's Bistro Donne margina Less Operating expenses $57,000 23,000 240,000 Minibirte din TXURIAL Q Inceme Statement For the Coming Year 200 VOLION NANO L Percent 143) a percentage. For example, 88349 would be 1.35.
Bob's Bistro produces party-sized hoege sandwiches. For next year, Bob's Bistro predicts that $5,000 unts will be produced with the following total costs Direct materials Direct labor Variable overhead Fixed overhead Next year, Bob's Bistro expects to purchase $130,000 of direct materials. Prejected beginning and ending inventories for direct materials and work in process are as follows Direct materials Work in Process Inventory Inventory $7,000 $14,200 $16.200 Beginning thong $6,500 Next year, Bob's Bistro expects to produce $5,000 units and sell 94,300 units at a price of $16.00 each. Beginning invertery of finished goods is $48.500, and ending inventary of finished goods is expected to be $40,000 Total selling expense is projected at $20,000, and total administrative expense is projected at $104,500 Required: 1. Prepare an income statement in good form, Round the percent to four decimal places before converting Bob's Bistro Donne margina Less Operating expenses $57,000 23,000 240,000 Minibirte din TXURIAL Q Inceme Statement For the Coming Year 200 VOLION NANO L Percent 143) a percentage. For example, 88349 would be 1.35.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Income Statement
Bob's Bistro produces party-sized hoegie sandwiches. For next year, Bob's Bistro predicts that 55,000 units will be produced with the following total costs
Direct materials
Direct labor
Variable overhead
Fixed overhead
Next year, Bob's Batre expects to purchase $130,000 of direct materials. Projected beginning and e
Direct materials
Work-in-Process
Inventory
Inventory
Beginning
$7,000
$14,200
Ending
$6,500
$16.200
Next year, Bob's Bistro expects to produce 55,000 units and sell 14,300 units at a price of $16.0 each Beginning invertery of finished goods
selling expense is projected at $20,000, and total administrative expense is projected at $104,500
$57,000
23,000
240,000
Os matin
Less Operating expenses
Selins eranties
Required:
1. Prepare an income statement in good form. Round the percent to four decimal places before converting to a percentage. For example,
Bob's Bistro
Income Statement
For the Coming Year
76000
10400
and work
300
process are as follows
ding inventary of finished goods is expected to be $40,000 Total
8835 and entere
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