Required Prepare separate income statements for all three year
Q No.# 2 The following data were taken from the records of a company.
Period 1 Period 2 Period 3
Production(units) 30,000 38000 27000
Sales 30,000 27000 38000
Opening stock 11,000
Closing stock ------ 11,000 -------
Per unit cost are as follows:
Direct material $ 1.5
Direct labor 1.0
Production overhead 3.0
Selling price per unit $ 9
Administrative
Required
Prepare separate income statements for all three year
Step by step
Solved in 2 steps with 2 images
