Total variable cost of goods sold Manufacturing margin Variable selling and administrative expenses Contribution margin Fixed costs: Fixed manufacturing costs Fixed selling and administrative expenses Total fixed costs Operating income Line Item Description Sales Cost of goods sold: Prepare an income statement under absorption costing. Round all final answers to whole dollars. Maryville Equipment Company Absorption Costing Income Statement For the Month Ended October 31 Amount. Cost of goods manufactured Inventory, October 31 Total cost of goods sold Gross profit Selling and administrative expenses Operating income $49,200 40,400 ✓ (222,200) $343,400 (151,500) $191,900 270,600 X (89,600) $102,300 Amount 565,600
Total variable cost of goods sold Manufacturing margin Variable selling and administrative expenses Contribution margin Fixed costs: Fixed manufacturing costs Fixed selling and administrative expenses Total fixed costs Operating income Line Item Description Sales Cost of goods sold: Prepare an income statement under absorption costing. Round all final answers to whole dollars. Maryville Equipment Company Absorption Costing Income Statement For the Month Ended October 31 Amount. Cost of goods manufactured Inventory, October 31 Total cost of goods sold Gross profit Selling and administrative expenses Operating income $49,200 40,400 ✓ (222,200) $343,400 (151,500) $191,900 270,600 X (89,600) $102,300 Amount 565,600
Chapter1: Financial Statements And Business Decisions
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