Sales Revenue $730,800 Variable Cost of Goods Sold $144,100 Fixed Cost of Goods Sold $119,400 Variable Selling and Administrative Costs $112,300 Fixed Selling and Administrative Costs $74,000 1. Calculate the gross profit and operating income for May using absorption costing. Cost of Goods Sold Gross Profit Amazin' 69 Corp. Income Statement For Month Ending May 31, 20XX Selling and Administrative Costs: Operating Income 2. Calculate the contribution margin and operating income for May using variable costing. Amazin' 69 Corp. Contribution Margin Income Statement For Month Ending May 31, 20XX Variable Costs Contribution Margin Fixed Costs ALP

Sales Revenue $730,800 Variable Cost of Goods Sold $144,100 Fixed Cost of Goods Sold $119,400 Variable Selling and Administrative Costs $112,300 Fixed Selling and Administrative Costs $74,000 1. Calculate the gross profit and operating income for May using absorption costing. Cost of Goods Sold Gross Profit Amazin' 69 Corp. Income Statement For Month Ending May 31, 20XX Selling and Administrative Costs: Operating Income 2. Calculate the contribution margin and operating income for May using variable costing. Amazin' 69 Corp. Contribution Margin Income Statement For Month Ending May 31, 20XX Variable Costs Contribution Margin Fixed Costs ALP

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter3: Cost Behavior And Cost Forecasting

Section: Chapter Questions

Problem 23BEA: Absorption-Costing Income Statement Refer to the data for Osterman Company above. Required: 1....

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