Income statement under variable costing for the period ending December 31, 018 Beginning inventoryUnits produced45,000Units sold40,000Selling price per unit$81Selling and administrative expenses:Variable per unit$ 2Fixed (per month)$ 561,000Manufacturing costs:Direct materials cost per unit$ 15Direct labor cost per unit$ 9Variable manufacturing overhead cost per unit $ 2Fixed manufacturing overhead cost (per month) $ 720,000%24

Formula: Net income = Total Revenues - Total Expenses

Answered: Income statement under variable costing…

Business

Accounting

Income statement under variable costing for the period ending December 31, 018

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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Question

Income statement under variable costing for the period ending December 31, 018

Beginning inventory
Units produced
45,000
Units sold
40,000
Selling price per unit
$81
Selling and administrative expenses:
Variable per unit
$ 2
Fixed (per month)
$ 561,000
Manufacturing costs:
Direct materials cost per unit
$ 15
Direct labor cost per unit
$ 9
Variable manufacturing overhead cost per unit $ 2
Fixed manufacturing overhead cost (per month) $ 720,000
%24

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