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Jordan Company nas provided the following year data. Budget Sales Variable product costs Variable selling expense Other variable expenses Fixed product costs Fixed selling expense Other fixed expenses Interest expense Variances Sales Variable product costs Variable selling expense Other variable expenses Fixed product costs Fixed selling expense Other fixed expenses Interest expense $ 519,000 202,000 49,000 3,200 16,000 24,000 1,400 680 8,200 Unfavorable 5,000 Favorable 2,200 Unfavorable 1,100 Unfavorable 290 Favorable 460 Favorable 140 Unfavorable 100 Favorable Required Prepare a budgeted and actual Income statement for Internal use.

Jordan Company nas provided the following year data. Budget Sales Variable product costs Variable selling expense Other variable expenses Fixed product costs Fixed selling expense Other fixed expenses Interest expense Variances Sales Variable product costs Variable selling expense Other variable expenses Fixed product costs Fixed selling expense Other fixed expenses Interest expense $ 519,000 202,000 49,000 3,200 16,000 24,000 1,400 680 8,200 Unfavorable 5,000 Favorable 2,200 Unfavorable 1,100 Unfavorable 290 Favorable 460 Favorable 140 Unfavorable 100 Favorable Required Prepare a budgeted and actual Income statement for Internal use.

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter9: Responsibility Accounting And Decentralization
Section: Chapter Questions
Problem 6PB: Using the information for Lighthizer Trading Company, prepare the income statement to include all...
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Jordan Company nas provided the following year data. Budget Sales Variable product costs Variable selling expense Other variable expenses Fixed product costs Fixed selling expense Other fixed expenses Interest expense Variances Sales Variable product costs. Variable selling expense Other variable expenses Fixed product costs Fixed selling expense Other fixed expenses Interest expense JORDAN COMPANY Internal Income Statement for Year 2 Budget Sales Variable expenses: Product costs Selling expenses Other expenses Contribution margin $ 519,000 202,000 Required Prepare a budgeted and actual income statement for Internal use. Fixed expenses: Product costs Selling expenses Other expenses Operating income (loss) Interest expense Net income (loss) 49,000 3,200 16,000 24,000 1,400 688 8,200 Unfavorable 5,000 Favorable 2,200 Unfavorable 1,100 Unfavorable 290 Favorable 460 Favorable 140 Unfavorable 100 Favorable Actual
Transcribed Image Text:Jordan Company nas provided the following year data. Budget Sales Variable product costs Variable selling expense Other variable expenses Fixed product costs Fixed selling expense Other fixed expenses Interest expense Variances Sales Variable product costs. Variable selling expense Other variable expenses Fixed product costs Fixed selling expense Other fixed expenses Interest expense JORDAN COMPANY Internal Income Statement for Year 2 Budget Sales Variable expenses: Product costs Selling expenses Other expenses Contribution margin $ 519,000 202,000 Required Prepare a budgeted and actual income statement for Internal use. Fixed expenses: Product costs Selling expenses Other expenses Operating income (loss) Interest expense Net income (loss) 49,000 3,200 16,000 24,000 1,400 688 8,200 Unfavorable 5,000 Favorable 2,200 Unfavorable 1,100 Unfavorable 290 Favorable 460 Favorable 140 Unfavorable 100 Favorable Actual
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