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The information below provides the summary report of estimated data o

The information below provides the summary report of estimated data o

FINANCIAL ACCOUNTING
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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Sales Cost of goods sold Drect material Direct labor Factory everhead Cost of goods sold Gross profit Expenses Seling expenses Sales salaries and commissions Advertising Travel Mscelaneounseling expense Sunshine Industries Inc. Estimated Income Statement For the Year Ended December 31, 2022 Administrative expenses Total seling expenses Total expenses Operating income office and officer sales Supples Macetaneous administrative expense Total administrative expenses II. The information below provides the summary report of estimated data of Sunshine Company on December 31, 2022: Production costs Direct materials Direct labor factory overhead Selling Expenses Sales salaries and commissions Advertising Travel Miscellaneous Salting expence Administrative expenses Office and officer salaries Suppli Miscellaneous administrative expense Total Estimated Fixed Cost 200000 110000 40000 12000 7600 112000 10000 13400 Estimated Variable Cost (per unit sold) 5 It is estimated that 21,975 units will be sold at a price of $164 a unit REQUIRED: Use the table provided on the left and prepare an estimated income Statement for the year ended December 31, 2022. 45 42 21 11 2 *** 2 125
Transcribed Image Text:Sales Cost of goods sold Drect material Direct labor Factory everhead Cost of goods sold Gross profit Expenses Seling expenses Sales salaries and commissions Advertising Travel Mscelaneounseling expense Sunshine Industries Inc. Estimated Income Statement For the Year Ended December 31, 2022 Administrative expenses Total seling expenses Total expenses Operating income office and officer sales Supples Macetaneous administrative expense Total administrative expenses II. The information below provides the summary report of estimated data of Sunshine Company on December 31, 2022: Production costs Direct materials Direct labor factory overhead Selling Expenses Sales salaries and commissions Advertising Travel Miscellaneous Salting expence Administrative expenses Office and officer salaries Suppli Miscellaneous administrative expense Total Estimated Fixed Cost 200000 110000 40000 12000 7600 112000 10000 13400 Estimated Variable Cost (per unit sold) 5 It is estimated that 21,975 units will be sold at a price of $164 a unit REQUIRED: Use the table provided on the left and prepare an estimated income Statement for the year ended December 31, 2022. 45 42 21 11 2 *** 2 125
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