Variable costing income statement | ||||||
Sales | 413600 | |||||
less: | Variable cost | |||||
variable production cost | 116560 | |||||
variable selling & adm cost | 8460 | |||||
total variable cost | 125020 | |||||
Contribution margin | 288580 | |||||
less: | Fixed expense | |||||
Fixed overhead cost | 74,240 | |||||
Fixed selling and administrative cost | 65,000 | |||||
total fixed expense | 139,240 | |||||
Net income (loss) | 149,340 | |||||
Aces Inc. a manufacturer of tennis rackets began operations this year. The company produced 5.800 rackets...
Aces Inc., a manufacturer of tennis rackets, began operations this year. The company produced 6,800 rackets and sold 5,700. Each racket was sold at a price of $98. Fixed overhead costs are $93,840, and fixed selling and administrative costs are $66,000. The company also reports the following per unit variable costs for the year: Variable product costs Variable selling and administrative expenses $ 25.80 $ 2.80 Prepare an income statement under variable costing. ACES INC. Variable Costing Income Statement Net...
Aces Inc., a manufacturer of tennis rackets, began operations this year. The company produced 5,500 rackets and sold 4,400. Each racket was sold at a price of $85. Fixed overhead costs are $68,750, and fixed selling and administrative costs are $64.700. The company also reports the following per unit variable costs for the year. Variable product costs Variable selling and administrative expenses $ 24.50 $ 1.50 Prepare an income statement under variable costing ACES INC. Variable Costing Income Statement Net...
Aces Inc., a manufacturer of tennis rackets, began operations this year. The company produced 5,600 rackets and sold 4,500. Each racket was sold at a price of $86. Fixed overhead costs are $70,560, and fixed selling and administrative costs are $64,800. The company also reports the following per unit variable costs for the year: Variable product costs Variable selling and administrative expenses $24.60 $ 1.60 Prepare an income statement under absorption costing. ACES INC. Absorption Costing Income Statement Selling general...
Aces Inc., a manufacturer of tennis rackets, began operations this year. The company produced 5,900 rackets and sold 4,800. Each racket was sold at a price of $89. Fixed overhead costs are $76.110, and fixed selling and administrative costs are $65,100. The company also reports the following per unit costs for the year eBook Variable production costs Variable selling and administrative expenses $ 24.90 $ 1.90 Hint Print Required: Prepare an income statement under variable costing. References ACES INC. Variable...
Aces Inc., a manufacturer of tennis rackets, began operations this year. The company produced 6,700 rackets and sold 5,600. Each racket was sold at a price of $97. Fixed overhead costs are $91,790, and fixed selling and administrative costs are $65,900. The company also reports the following per unit costs for the year: Variable production costs Variable selling and administrative expenses $25.70 2.70 Required Prepare an income statement under absorption costing. ACES INC. Absorption Costing Income Statement Cost of goods...
Aces Inc. a manufacturer of tennis rackets, began operations this year. The company produced 6,500 rackets and sold 5,400. Each racket was sold at a price of $95. Fixed overhead costs are $87,750, and fixed selling and administrative costs are $65.700. The company also reports the following per unit variable costs for the year.Variable product costs $ 25.50Variable selling and administrative expenses $ 2.50 Prepare an income statement under variable costing.
Aces Inc., a manufacturer of tennis rackets, began operations this year. The company produced 5,600 rackets and sold 4,500. Each racket was sold at a price of $86. Fixed overhead costs are $70,560, and fixed selling and administrative costs are $64,800. The company also reports the following per unit costs for the year: Variable production costs $ 24.60 Variable selling and administrative expenses $ 1.60 Required: Prepare an income statement under variable costing. ACES INC Variable Costing Income Statement Sales...
Aces Inc., a manufacturer of tennis rackets, began operations this year. The company produced 7.000 rackets and sold 5,900. Each racket was sold at a price of $100. Fixed overhead costs are $98.000, and fixed selling and administrative costs are $66,200. The company also reports the following per unit variable costs for the year Variable product costs Variable selling and administrative expenses $26.00 $ 3.00 Prepare an income statement under absorption costing. Answer is complete but not entirely correct. $...
QS 18-19B Variable costing income statement LO P5 Aces Inc., a manufacturer of tennis rackets, began operations this year. The company produced 6,800 rackets and sold 5,700. Each racket was sold at a price of $98. Fixed overhead costs are $93,840, and fixed selling and administrative costs are $66,000. The company also reports the following per unit costs for the year: Variable production costs Variable selling and administrative expenses $ 25.80 $ 2.80 Required: Prepare an income statement under variable...
QS 18-20B Absorption costing income statement LO P5 Aces Inc., a manufacturer of tennis rackets, began operations this year. The company produced 5,000 rackets and sold 3,900. Each racket was sold at a price of $80. Fixed overhead costs are $60,000, and fixed selling and administrative costs are $64,200. The company also reports the following per unit costs for the year: Variable production costs Variable selling and administrative expenses $24.00 $ 1.00 Required: Prepare an income statement under absorption costing....