Homework Help is Here – Start Your Trial Now!
Business
Accounting
(Static) Prepare variable costing income statement LO P2 Dion Company reports the absorption costing income statement below for May. The company began the month with no finished goos inventory. Dion produced 20,000 units, and 2,000 units remain in ending finished goods inventory for May. Fixed overhead was $50,000 Variable selling and administration expenses were $30,000 and fixed selling and administrative expenses were $10,000. Sales (18,000 units) Cost of goods sold Gross profit Selling and administrative expenses Income $360,000 300,000 60,000 40,000 $ 20,000 Prepare an income statement using variable costing DION COMPANY Income Statement (Variable Costing)

(Static) Prepare variable costing income statement LO P2 Dion Company reports the absorption costing income statement below for May. The company began the month with no finished goos inventory. Dion produced 20,000 units, and 2,000 units remain in ending finished goods inventory for May. Fixed overhead was $50,000 Variable selling and administration expenses were $30,000 and fixed selling and administrative expenses were $10,000. Sales (18,000 units) Cost of goods sold Gross profit Selling and administrative expenses Income $360,000 300,000 60,000 40,000 $ 20,000 Prepare an income statement using variable costing DION COMPANY Income Statement (Variable Costing)

Accounting
Accounting
27th Edition
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Chapter21: Cost-volume-profit Analysis
Section: Chapter Questions
Problem 21.28EX: Appendix Absorption costing income statement On June 30, the end of the first month of operations,...
See similar textbooks
icon
Related questions
Question

Please do not give solution in image format thanku 

Exercise 19-12 (Static) Prepare variable costing income statement LO P2 Dion Company reports the absorption costing income statement below for May. The company began the month with no finished goods Inventory. Dion produced 20,000 units, and 2,000 units remain in ending finished goods inventory for May. Fixed overhead was $50,000 Variable selling and administration expenses were $30,000 and fixed selling and administrative expenses were $10,000. Sales (18,000 units) Cost of goods sold Gross profit Selling and administrative expenses Income Prepare an income statement using variable costing. $360,000 300,000 60,000 40,000 $ 20,000 DION COMPANY Income Statement (Variable Costing)
Transcribed Image Text:Exercise 19-12 (Static) Prepare variable costing income statement LO P2 Dion Company reports the absorption costing income statement below for May. The company began the month with no finished goods Inventory. Dion produced 20,000 units, and 2,000 units remain in ending finished goods inventory for May. Fixed overhead was $50,000 Variable selling and administration expenses were $30,000 and fixed selling and administrative expenses were $10,000. Sales (18,000 units) Cost of goods sold Gross profit Selling and administrative expenses Income Prepare an income statement using variable costing. $360,000 300,000 60,000 40,000 $ 20,000 DION COMPANY Income Statement (Variable Costing)
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Cost estimation
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting (Text Only)
Accounting (Text Only)
Accounting
ISBN:
9781285743615
Author:
Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:
Cengage Learning
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Principles of Cost Accounting
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
Managerial Accounting: The Cornerstone of Busines…
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Cornerstones of Cost Management (Cornerstones Ser…
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS