Sales Revenue Cost of Goods Sold pro oper WATERWAY COMPANY Income Statement For the Month Ended January 31, 2022 +A 81000 47700 33300 7060 7060 > > Waterway Company uses a standard cost accounting system. During January, the company reported the following manufacturing variances. Materials price variance $1,220 U Labor quantity variance $870 U Materials quantity variance 740 F Overhead variance 840 U Labor price variance 510 U In addition, 9,000 units of product were sold at $9 per unit. Each unit sold had a standard cost of $5. Selling and administrative expenses were $7,060 for the month. Prepare an income statement for management for the month ended January 31, 2022.
Sales Revenue Cost of Goods Sold pro oper WATERWAY COMPANY Income Statement For the Month Ended January 31, 2022 +A 81000 47700 33300 7060 7060 > > Waterway Company uses a standard cost accounting system. During January, the company reported the following manufacturing variances. Materials price variance $1,220 U Labor quantity variance $870 U Materials quantity variance 740 F Overhead variance 840 U Labor price variance 510 U In addition, 9,000 units of product were sold at $9 per unit. Each unit sold had a standard cost of $5. Selling and administrative expenses were $7,060 for the month. Prepare an income statement for management for the month ended January 31, 2022.
Chapter1: Financial Statements And Business Decisions
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