ew History ework Help Required information The following information applies to

Question

ew History ework Help Required information The following information applies to the questions displayed below, Cool Sky reports the following costing data on its product for its first year of operations. During this first year, the company produced 44,000 units and sold 36,000 units at a price of $130 per unit Masufacturing costs $ 54 Direet materials per unit bireet labor per unit Variable overhead per unit rixed overhead for the year $484.00 Selling and administrative costs Variable selling and adainistrative cost per wnit Fixed selling and administrative cost per year $120,000 2b. Assume the company uses variable costing. Prepare its income statement for the year under variable costing Variable Costing Income Statement

Explanation / Answer

I have to zoom it to the full to see amounts of fixed costs, please see that I have taken the correct amounts. Approach to solve the problem is correct otherwise. Thanks

Sales $46,80,000.00 Variable expense Variable production costs $28,80,000.00 Variable selling and administra±ve cost $3,60,000.00 Total Variable expenses $32,40,000.00 Contribution margin $14,40,000.00 Fixed expenses Fixed overhead $4,84,000.00 Fixed selling and administrative cost $1,20,000.00 Total fxed expenses $6,04,000.00 Net income $8,36,000.00

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