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The following data comes from the records of the Orth and Ott Company (there was no beginning inventory): Production (units) Sales (units) Selling price (per unit) Variable costs (per unit): Direct materials Direct labor Manufacturing Overhead Fixed Costs: Manufacturing overhead Selling Expense Administrative Expenses Variable selling expenses (per unit) 20,000 17,000 $30.00 $8 4 2 $80,000 40,000 36,000 $1

The following data comes from the records of the Orth and Ott Company (there was no beginning inventory): Production (units) Sales (units) Selling price (per unit) Variable costs (per unit): Direct materials Direct labor Manufacturing Overhead Fixed Costs: Manufacturing overhead Selling Expense Administrative Expenses Variable selling expenses (per unit) 20,000 17,000 $30.00 $8 4 2 $80,000 40,000 36,000 $1

FINANCIAL ACCOUNTING
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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The following data comes from the records of the Orth and Ott Company (there was no beginning inventory): Production (units) Sales (units) Selling price (per unit) Variable costs (per unit): Direct materials Direct labor Fixed Costs: Manufacturing overhead Selling Expense 20,000 Manufacturing Overhead 2 Administrative Expenses Variable selling expenses (per unit) 17,000 $30.00 $8 $80,000 40,000 36,000 $1 Prepare an income statement using absorption costing.
Transcribed Image Text:The following data comes from the records of the Orth and Ott Company (there was no beginning inventory): Production (units) Sales (units) Selling price (per unit) Variable costs (per unit): Direct materials Direct labor Fixed Costs: Manufacturing overhead Selling Expense 20,000 Manufacturing Overhead 2 Administrative Expenses Variable selling expenses (per unit) 17,000 $30.00 $8 $80,000 40,000 36,000 $1 Prepare an income statement using absorption costing.
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