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Ben a producer of solid oak tables, reports the following data from its first year of business. Sales price per unit $ 365 per unit
Ben a producer of solid oak tables, reports the following data from its first year of business.
Sales price per unit | $ 365 | per unit |
---|---|---|
Units produced this year | 125,000 | units |
Units sold this year | 125,000 | units |
Variable selling and administrative expenses | $ 21 | per unit |
Fixed selling and administrative expenses | $ 4,645,000 | per year |
Direct materials | $ 49 | per unit |
Direct labor | $ 71 | per unit |
Variable overhead | $ 37 | per unit |
Fixed overhead | $ 8,500,000 | per year
|
i've been stuck for a long time, may someone help me out?
Prepare the current-year income statement using variable costing
\begin{tabular}{|l|l|l|l|} \hline \multicolumn{2}{|c|}{ OAK MART } & \\ \hline \multicolumn{2}{|c|}{ Income Statement (Variable Costing) } & & \\ \hline Sales & & & 45,625,000 \\ \hline Less: Variable expenses & & \\ \hline Variable cost of goods sold & & \\ \hline Variable selling and administrative expenses & & \\ \hline Contribution margin & & \\ \hline Less: Fixed expenses & & \\ \hline Fixed overhead & & \\ \hline Income & & \\ \hline \end{tabular} 2. Prepare the current-year income statement using absorption costingStep by Step Solution
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