Prepare an income statement through gross profit for Bellingham Company for the month ending March 31. For those boxes in which you must enter subtractive or negative numbers use a minus sign. If an amount box does not require an entry, leave it blank: Income statement with variances The following data is provided for Bellingham Company: DATA Standard pounds per unit 2.5 Standard price per pound $3.90 Actual quantity of pounds used 34,000 Units produced (sold) 19,000 Actual price per pound $4.15 Standard direct labor hours per unit 3.0 Standard hourly rate $19.55 Actual labor hours used 63,200 Actual hourly rate $19.40 Standard variable overhead cost per unit per direct labor hour $0.80 Actual variable factory overhead $36,790 Standard fixed overhead cost per unit per direct labor hour $1.05 Practical capacity 45,000 Selling price $168 Please avoid solution in handwritten thank you
Prepare an income statement through gross profit for Bellingham Company for the month ending March 31. For those boxes in which you must enter subtractive or negative numbers use a minus sign. If an amount box does not require an entry, leave it blank: Income statement with variances The following data is provided for Bellingham Company: DATA Standard pounds per unit 2.5 Standard price per pound $3.90 Actual quantity of pounds used 34,000 Units produced (sold) 19,000 Actual price per pound $4.15 Standard direct labor hours per unit 3.0 Standard hourly rate $19.55 Actual labor hours used 63,200 Actual hourly rate $19.40 Standard variable overhead cost per unit per direct labor hour $0.80 Actual variable factory overhead $36,790 Standard fixed overhead cost per unit per direct labor hour $1.05 Practical capacity 45,000 Selling price $168 Please avoid solution in handwritten thank you
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Prepare an income statement through gross profit for Bellingham Company for the month ending March 31. For those boxes in which you must enter subtractive or negative numbers use a minus sign. If an amount box does not require an entry, leave it blank:
| Income statement with variances | |
| The following data is provided for Bellingham Company: | |
| DATA | |
| Standard pounds per unit | 2.5 |
| Standard price per pound | $3.90 |
| Actual quantity of pounds used | 34,000 |
| Units produced (sold) | 19,000 |
| Actual price per pound | $4.15 |
| Standard direct labor hours per unit | 3.0 |
| Standard hourly rate | $19.55 |
| Actual labor hours used | 63,200 |
| Actual hourly rate | $19.40 |
| Standard variable |
$0.80 |
| Actual variable factory overhead | $36,790 |
| Standard fixed overhead cost per unit per direct labor hour | $1.05 |
| Practical capacity | 45,000 |
| Selling price | $168 |
Please avoid solution in handwritten thank you
Transcribed Image Text:.
Bellingham Company
Income Statement Through Gross Profit
For the Month Ended March 31
Sales
Cost of goods sold - at standard
Gross profit - at standard
Variances from standard cost:
Direct materials price
Direct materials quantity
Direct labor rate
Direct labor time
Factory overhead controllable
Factory overhead volume
Net variances from standard cost-
unfavorable
Gross profit
Favorable
Unfavorable
6A
69
PJO
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