A-7 vIncome StatementPietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 51,300 units will be produced, with the following total costs:Direct materialsDirect laborVariable overheadFixed overheadNext year, Pietro expects to purchase $120,000 of direct materials. Projected beginning and ending inventories for direct materials and work in process are as follows:Direct materialsBeginningEndingInventory$4,000$3,900Required:?61,00017,000230,000Next year, Pietro expects to produce 51,300 units and sell 50,600 units at a price of $18.00 each. Beginning inventory of finished goods is $38,500, and ending inventory of finished goods is expected to be $30,000. Totaselling expense is projected at $21,000, and total administrative expense is projected at $118,500.Less operating expenses:Work-in-ProcessInventory$10,900$12,9001. Prepare an income statement in good form. Round the percent to four decimal places before converting to a percentage. For example, .88349 would be rounded to .8835 and entered as 88.35.Note: due to rounding, percentages may not add down.Pietro Frozen Foods, Inc.Income StatementFor the Coming YearPercentCheck My Work 3 more Check My Work uses remaining.%%%%%2. What if the cost of goods sold percentage for the past few years was 45.72 percent? Management's reaction might be:All work saved.Save and ExitPreviousMSubmit Assignment f

Name: A-7 vIncome StatementPietro Frozen Foods, Inc., produces frozen pizzas
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: A-7 vIncome StatementPietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 51,300 units will be produced, with the following total costs:Direct materialsDirect laborVariable overheadFixed overheadNext year, Pietro exp