The variable-costing income statement for Jackson Company for last year is as follows: Sales (5,000 units) $ 105,200 Variable expenses: Cost of goods sold $29,900 Selling(10% of sales) 10,520 40,420 Contribution margin 64,780 Fixed expenses: Manufacturing overhead 24,600 administrative 14,600 39,200 Operating Income 25,580 Selected data for last year concerning the operations of the company are as follows: Beginning inventory: 0 units Units produced: 9,000 units Manufacturing costs: Direct labor: 3.50 per unit Direct materials: 1.60 per unit Variable overhead: 1.20 per unit 1. Prepare an absorption costing income statement for last year
The variable-costing income statement for Jackson Company for last year is as follows:
Sales (5,000 units) $ 105,200
Variable expenses:
Cost of goods sold $29,900
Selling(10% of sales) 10,520 40,420
Contribution margin 64,780
Fixed expenses:
Manufacturing
administrative 14,600 39,200
Operating Income 25,580
Selected data for last year concerning the operations of the company are as follows:
Beginning inventory: 0 units
Units produced: 9,000 units
Direct labor: 3.50 per unit
Direct materials: 1.60 per unit
Variable overhead: 1.20 per unit
1. Prepare an absorption costing income statement for last year
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