The following data are from the accounting records of Niles Castings for year 2 Units produced and sold Total revenues and costs Sales revenue Direct materials costs Direct labor costs Variable manufacturing overhead Fixed manufacturing overhead Variable marketing and administrative costs Fixed marketing and administrative costs Required: a. Prepare a gross margin income statement. b. Prepare a contribution margin income statement. Required A Required B 89,000 Complete this question by entering your answers in the tabs below. Prepare a gross margin income statement. $280,000 64,000 40,000 18,000 43,000 11,500 32,000

The following data are from the accounting records of Niles Castings for year 2 Units produced and sold Total revenues and costs Sales revenue Direct materials costs Direct labor costs Variable manufacturing overhead Fixed manufacturing overhead Variable marketing and administrative costs Fixed marketing and administrative costs Required: a. Prepare a gross margin income statement. b. Prepare a contribution margin income statement. Required A Required B 89,000 Complete this question by entering your answers in the tabs below. Prepare a gross margin income statement. $280,000 64,000 40,000 18,000 43,000 11,500 32,000

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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Subject: accounting
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