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Income Statement Bob's Bistro produces party-sized hoagie sandwiches. For next year, Bob's Bistro predicts that 54,900 units will be produced with the following total costs: Direct materials Direct labor $51,000 16,000 220,000 Variable overhead. Fixed overhead Next year, Bob's Bistro expects to purchase $124,500 of direct materials. Projected beginning and ending inventories for direct materials and work in process are as follows: Direct materials. Work-in-Process Inventory Inventory Beginning $6,000 $13,000 Ending $5,900 $15,000 Next year, Bob's Bistro expects to produce 54,900 units and sell 54,200 units at a price of $13.00 each. Beginning inventory of finished goods is $41,500, and ending inventory of finished goods is expected to be $33,000. Total selling expense is projected at $27,500, and total administrative expense is projected at $117,500.

Income Statement Bob's Bistro produces party-sized hoagie sandwiches. For next year, Bob's Bistro predicts that 54,900 units will be produced with the following total costs: Direct materials Direct labor $51,000 16,000 220,000 Variable overhead. Fixed overhead Next year, Bob's Bistro expects to purchase $124,500 of direct materials. Projected beginning and ending inventories for direct materials and work in process are as follows: Direct materials. Work-in-Process Inventory Inventory Beginning $6,000 $13,000 Ending $5,900 $15,000 Next year, Bob's Bistro expects to produce 54,900 units and sell 54,200 units at a price of $13.00 each. Beginning inventory of finished goods is $41,500, and ending inventory of finished goods is expected to be $33,000. Total selling expense is projected at $27,500, and total administrative expense is projected at $117,500.

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter9: Standard Costing: A Functional-based Control Approach
Section: Chapter Questions
Problem 30P: Algers Company produces dry fertilizer. At the beginning of the year, Algers had the following...
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Required: 1. Prepare an income statement in good form. Round the percent to four decimal places before converting to a percentage. For example, .88349 would be rounded to .8835 and entered as 88.35. Bob's Bistro Income Statement For the Coming Year Less: Operating expenses 8 Percent % % % % % 2. What if the operating expenses percentage for the past few years was 55.34 percent? Management's reaction might be:
Transcribed Image Text:Required: 1. Prepare an income statement in good form. Round the percent to four decimal places before converting to a percentage. For example, .88349 would be rounded to .8835 and entered as 88.35. Bob's Bistro Income Statement For the Coming Year Less: Operating expenses 8 Percent % % % % % 2. What if the operating expenses percentage for the past few years was 55.34 percent? Management's reaction might be:
Income Statement Bob's Bistro produces party-sized hoagie sandwiches. For next year, Bob's Bistro predicts that 54,900 units will be produced with the following total costs: ? Direct materials Direct labor Variable overhead Fixed overhead. Next year, Bob's Bistro expects to purchase $124,500 of direct materials. Projected beginning and ending inventories for direct work in process are as follows: materials Direct materials Work-in-Process Inventory Inventory Beginning $6,000 $13,000 Ending $5,900 $15,000 Next year, Bob's Bistro expects to produce 54,900 units and sell 54,200 units at a price of $13.00 each. Beginning inventory of finished goods is $41,500, and ending inventory of finished goods is expected to be $33,000. Total selling expense is projected at $27,500, and total administrative expense is projected at $117,500. $51,000 16,000 220,000
Transcribed Image Text:Income Statement Bob's Bistro produces party-sized hoagie sandwiches. For next year, Bob's Bistro predicts that 54,900 units will be produced with the following total costs: ? Direct materials Direct labor Variable overhead Fixed overhead. Next year, Bob's Bistro expects to purchase $124,500 of direct materials. Projected beginning and ending inventories for direct work in process are as follows: materials Direct materials Work-in-Process Inventory Inventory Beginning $6,000 $13,000 Ending $5,900 $15,000 Next year, Bob's Bistro expects to produce 54,900 units and sell 54,200 units at a price of $13.00 each. Beginning inventory of finished goods is $41,500, and ending inventory of finished goods is expected to be $33,000. Total selling expense is projected at $27,500, and total administrative expense is projected at $117,500. $51,000 16,000 220,000
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