Required Information Exercise 6-11 (Algo) Absorption costing and variable costing Income statements LO P2 [The following information applies to the questions displayed below. Oak Mart, a producer of solid oak tables, reports the following data from its first year of business. Sales price per unit Units produced this year Units sold this year Variable selling and administrative expenses Fixed selling and administrative expenses Direct naterials Direct labor Variable overhead Fixed overhead $ 335 per unit 119,000 units 119,000 units $15 per unit $ 4,615,000 per year $ 43 per unit $65 par unit $ 31 per unit $ 7,378,000 per year Exercise 6-11 (Algo) Part 1. 1. Prepare the current-year income statement using variable costing. Income OAK MART Income Statement (Variable Costing) 2 Proparo the current yoar incomo statomont using absorption costing. Income OAK MART Income Statement (Absorption Costing)
Required Information Exercise 6-11 (Algo) Absorption costing and variable costing Income statements LO P2 [The following information applies to the questions displayed below. Oak Mart, a producer of solid oak tables, reports the following data from its first year of business. Sales price per unit Units produced this year Units sold this year Variable selling and administrative expenses Fixed selling and administrative expenses Direct naterials Direct labor Variable overhead Fixed overhead $ 335 per unit 119,000 units 119,000 units $15 per unit $ 4,615,000 per year $ 43 per unit $65 par unit $ 31 per unit $ 7,378,000 per year Exercise 6-11 (Algo) Part 1. 1. Prepare the current-year income statement using variable costing. Income OAK MART Income Statement (Variable Costing) 2 Proparo the current yoar incomo statomont using absorption costing. Income OAK MART Income Statement (Absorption Costing)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Required Information
Exercise 6-11 (Algo) Absorption costing and variable costing Income statements LO P2
[The following information applies to the questions displayed below.
Oak Mart, a producer of solid oak tables, reports the following data from its first year of business.
Sales price per unit
Units produced this year
Units sold this year
Variable selling and administrative expenses
Fixed selling and administrative expenses
Direct naterials
Direct labor
Variable overhead
Fixed overhead
$ 335 per unit
119,000 units
119,000 units
$15 per unit
$ 4,615,000 per year
$ 43 per unit
$65 par unit
$ 31 per unit
$ 7,378,000 per year
Exercise 6-11 (Algo) Part 1.
1. Prepare the current-year income statement using variable costing.
Income
OAK MART
Income Statement (Variable Costing)
2 Proparo the current yoar incomo statomont using absorption costing.
Income
OAK MART
Income Statement (Absorption Costing)
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