On July 31, the end of the first month or oper Sales (18,000 units) Cost of goods sold: Cost of goods manufactured Less ending inventory (4,000 units) Cost of goods sold Gross profit Selling and administrative expenses Income from operations $792,000 144,000 epared the following inc $990,000 648,000 $342,000 103,000 $239,000 a. Prepare a variable costing income statement, assuming that the fixed manufacturing costs were $66,000 and the variable selling and administrative exp $47,000. In your computations, round unit costs to two decimal places and round final answers to the nearest dollar.
On July 31, the end of the first month or oper Sales (18,000 units) Cost of goods sold: Cost of goods manufactured Less ending inventory (4,000 units) Cost of goods sold Gross profit Selling and administrative expenses Income from operations $792,000 144,000 epared the following inc $990,000 648,000 $342,000 103,000 $239,000 a. Prepare a variable costing income statement, assuming that the fixed manufacturing costs were $66,000 and the variable selling and administrative exp $47,000. In your computations, round unit costs to two decimal places and round final answers to the nearest dollar.
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter7: Variable Costing For Management
analysis
Section: Chapter Questions
Problem 5E: On April 30, the end of the first month of operations, Joplin Company prepared the following income...
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![On July 31, the end of the first month of operations, Rhys Company prepared the following income statement, based on the absorption costing concept:
Sales (18,000 units)
Cost of goods sold:
Cost of goods manufactured
Less ending inventory (4,000 units)
Cost of goods sold
Gross profit
Selling and administrative expenses
Income from operations
Rhys Company
Income Statement-Variable Costing
For the Month Ended July 31
Variable cost of goods sold:
a. Prepare a variable costing income statement, assuming that the fixed manufacturing costs were $66,000 and the variable selling and administrative expenses we
$47,000. In your computations, round unit costs to two decimal places and round final answers to the nearest dollar.
Fixed costs:
$792,000
144,000
0000
$990,000
648,000
$342,000
103,000
$239,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa99f2e27-484d-4d4f-a011-3be120d803ff%2Fbbfd9419-dcf3-4f5a-a0b4-a2f492c204aa%2Fww1or4_processed.jpeg&w=3840&q=75)
Transcribed Image Text:On July 31, the end of the first month of operations, Rhys Company prepared the following income statement, based on the absorption costing concept:
Sales (18,000 units)
Cost of goods sold:
Cost of goods manufactured
Less ending inventory (4,000 units)
Cost of goods sold
Gross profit
Selling and administrative expenses
Income from operations
Rhys Company
Income Statement-Variable Costing
For the Month Ended July 31
Variable cost of goods sold:
a. Prepare a variable costing income statement, assuming that the fixed manufacturing costs were $66,000 and the variable selling and administrative expenses we
$47,000. In your computations, round unit costs to two decimal places and round final answers to the nearest dollar.
Fixed costs:
$792,000
144,000
0000
$990,000
648,000
$342,000
103,000
$239,000
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