(Static) Prepare variable costing income statement LO P2 Dion Company reports the absorption costing income statement below for May. The company began the month with no finished goos inventory. Dion produced 20,000 units, and 2,000 units remain in ending finished goods inventory for May. Fixed overhead was $50,000 Variable selling and administration expenses were $30,000 and fixed selling and administrative expenses were $10,000. Sales (18,000 units) Cost of goods sold Gross profit Selling and administrative expenses Income $360,000 300,000 60,000 40,000 $ 20,000 Prepare an income statement using variable costing DION COMPANY Income Statement (Variable Costing)

(Static) Prepare variable costing income statement LO P2 Dion Company reports the absorption costing income statement below for May. The company began the month with no finished goos inventory. Dion produced 20,000 units, and 2,000 units remain in ending finished goods inventory for May. Fixed overhead was $50,000 Variable selling and administration expenses were $30,000 and fixed selling and administrative expenses were $10,000. Sales (18,000 units) Cost of goods sold Gross profit Selling and administrative expenses Income $360,000 300,000 60,000 40,000 $ 20,000 Prepare an income statement using variable costing DION COMPANY Income Statement (Variable Costing)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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