Income Statement
What would the income statement be for the activity-based costing and variable costing methods?
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Explain the activity-based costing income statement and provide a hypothetical example of activity-based costing income statement...
Explain the activity-based costing income statement and provide a hypothetical example of activity-based costing income statement in a manufacturing enterprise. Provide in-text citations and explain your example in detail
Sook Calculator me following data were adapted from a recent income statement of The Procter &...
Sook Calculator me following data were adapted from a recent income statement of The Procter & Gamble (in millions) Sales $65,058 Operating costs: Cost of products sold $(32,535) Marketing, administrative, and other expenses (18,568) Total operating costs $(51,103) Operating income $13,955 Assume that the variable amount of each category of operating costs is as follows: (in millions) Cost of products sold $19,500 Marketing, administrative, and other expenses 14,000 a. Based on the data given, prepare a variable costing income statement...
Explain job order costing and activity-based costing income statements in general terms. Prepare income statement in bot...
Explain job order costing and activity-based costing income statements in general terms. Prepare income statement in both job order costing and activity-based costing formats for a hypothetical case. Your example should include at least three activities and at least two products. If you do both correctly the operating income in both statements should be identical. Explain the initial assumptions and the calculations in detail. The question is complete
The vice president of sales at Wildlife Corporation has received the income statement for January 2009....
The vice president of sales at Wildlife Corporation has received the income statement for January 2009. This statement, which was prepared on the basis of variable costing, is reproduced below. The firm has just adopted a variable costing system for internal reporting. Wildlife Corporation Income Statement For the Month of January 2009 $2,400,000 1,200,000 $1,200,000 Sales revenues Variable cost of goods sold Contribution margin Fixed costs Manufacturing Selling and administrative Operating income S600,000 400,000 1,000,000 $ 200,000 The controller attached...
Variable Costing Income Statement On July 31, the end of the first month of operations, Rhys...
Variable Costing Income Statement On July 31, the end of the first month of operations, Rhys Company prepared the following income statement, based on the absorption costing concept $4,440,000 Sales (96,000 units) Cost of goods sold: Cost of goods manufactured Less ending inventory (24,000 units) Cost of goods sold $3,120,000 624,000 2.496.000 Gross profit $1,944,000 288,000 Selling and administrative expenses Income from operations $1,656,000 a. Prepare a variable costing income statement, assuming that the fixed manufacturing costs were $132,000 and...
1. Use the income statements on the Absorption Statement and Variable Statement to complete the following...
1. Use the income statements on the Absorption Statement and Variable Statement to complete the following table for the original production level. Then prepare similar income statements at a production level 10,000 units higher and add that information to the table. Assume that total fixed costs, unit variable costs, unit sales price, and the sales levels are the same at both production levels. Operating Income Original Production Level-Absorption Original Production Level-Variable Additional 10,000 Units-Absorption Additional 10,000 Units-Variable $310,000 $250,000 $...
Variable Costing Income Statement On November 30, the end of the first month of operations, Weatherford...
Variable Costing Income Statement On November 30, the end of the first month of operations, Weatherford Company prepared the following income statement, based on the absorption costing concept: Weatherford Company Absorption Costing Income Statement For the Month Ended November 30 Sales (3,900 units) $78,000 Cost of goods sold: Cost of goods manufactured (4,600 units) $64,400 Inventory, November 30 (600 units) (8,400) Total cost of goods sold 56,000 Gross profit $22,000 Selling and administrative expenses 12,370 Income from operations $9,630 Assume...
Variable Costing Income Statement On April 30, the end of the first month of operations, Joplin...
Variable Costing Income Statement On April 30, the end of the first month of operations, Joplin Company prepared the following income statement, based on the absorption costing concept: Joplin Company Absorption Costing Income Statement For the Month Ended April 30 Sales (3,100 units) $83,700 Cost of goods sold: Cost of goods manufactured (3,500 units) $66,500 Inventory, April 30 (500 units) (9,500) Total cost of goods sold (57,000) Gross profit $26,700 Selling and administrative expenses (15,250) Operating income $11,450 If the...
Instructions Income Statement Tudor Manufacturing Co Income Statement- Variable Costing A. Prepare an absorption costing income...
Instructions Income Statement Tudor Manufacturing Co Income Statement- Variable Costing A. Prepare an absorption costing income statement. Refer to the Labels and Amount Descriptions list provided for the exact wording of For the Month Ended June 30, 2016 the answer choices for text entries. "Less" or "Plus" and colons will automatically appear if it is required. In your computations, round Sales (420,000 units) $8.290,000.00 1 unit costs to two decimal places and round final answers to the nearest dollar. Variable...
EX 20-5 Variable costing income statement On June 30, the end of the first month of...
EX 20-5 Variable costing income statement On June 30, the end of the first month of operations, Clowney Company prepared the following income statement, based on the absorption costing concept: Clowney Company Absorption Costing Income Statement For the Month Ended June 30, 2013 $537,600 $448,000 64,000 Sales (9,600 units) ... Cost of goods sold: Cost of goods manufactured (11,200 units). Less inventory, June 30 (1,600 units)......... Cost of goods sold......................................... Gross profit....................................................... Selling and administrative expenses ............................ Income from operations...
Sook Calculator me following data were adapted from a recent income statement of The Procter & Gamble (in millions) Sales $65,058 Operating costs: Cost of products sold $(32,535) Marketing, administrative, and other expenses (18,568) Total operating costs $(51,103) Operating income $13,955 Assume that the variable amount of each category of operating costs is as follows: (in millions) Cost of products sold $19,500 Marketing, administrative, and other expenses 14,000 a. Based on the data given, prepare a variable costing income statement...
The vice president of sales at Wildlife Corporation has received the income statement for January 2009. This statement, which was prepared on the basis of variable costing, is reproduced below. The firm has just adopted a variable costing system for internal reporting. Wildlife Corporation Income Statement For the Month of January 2009 $2,400,000 1,200,000 $1,200,000 Sales revenues Variable cost of goods sold Contribution margin Fixed costs Manufacturing Selling and administrative Operating income S600,000 400,000 1,000,000 $ 200,000 The controller attached...
Variable Costing Income Statement On July 31, the end of the first month of operations, Rhys Company prepared the following income statement, based on the absorption costing concept $4,440,000 Sales (96,000 units) Cost of goods sold: Cost of goods manufactured Less ending inventory (24,000 units) Cost of goods sold $3,120,000 624,000 2.496.000 Gross profit $1,944,000 288,000 Selling and administrative expenses Income from operations $1,656,000 a. Prepare a variable costing income statement, assuming that the fixed manufacturing costs were $132,000 and...
Instructions Income Statement Tudor Manufacturing Co Income Statement- Variable Costing A. Prepare an absorption costing income statement. Refer to the Labels and Amount Descriptions list provided for the exact wording of For the Month Ended June 30, 2016 the answer choices for text entries. "Less" or "Plus" and colons will automatically appear if it is required. In your computations, round Sales (420,000 units) $8.290,000.00 1 unit costs to two decimal places and round final answers to the nearest dollar. Variable...
EX 20-5 Variable costing income statement On June 30, the end of the first month of operations, Clowney Company prepared the following income statement, based on the absorption costing concept: Clowney Company Absorption Costing Income Statement For the Month Ended June 30, 2013 $537,600 $448,000 64,000 Sales (9,600 units) ... Cost of goods sold: Cost of goods manufactured (11,200 units). Less inventory, June 30 (1,600 units)......... Cost of goods sold......................................... Gross profit....................................................... Selling and administrative expenses ............................ Income from operations...
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