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Can anyone help me solve this? I finished all the other problems but I am stuck on this. Cant wait for this accounting class to
Can anyone help me solve this?
I finished all the other problems but I am stuck on this.
Cant wait for this accounting class to be over haha,
thanks,
Variable-Costing Income Statement
During the most recent year, Osterman Company had the following data:
Units in beginning inventory | |
Units produced | 10,000 |
Units sold ($47 per unit) | 9,300 |
Variable costs per unit: | |
Direct materials | $9 |
Direct labor | $6 |
Variable overhead | $4 |
Fixed costs: | |
Fixed overhead per unit produced | $5 |
Fixed selling and administrative | $138,000 |
Required:
1. Calculate the cost of goods sold under variable costing.
$
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2. Prepare an income statement using variable costing. Enter amounts as positive numbers.
Osterman Company | ||
Income Statement under Variable Costing | ||
For the Most Recent Year | ||
Sales | $ | |
Less: Variable cost of goods sold | ||
Gross margin | $ | |
Less fixed expenses: | ||
Less: Cost of goods sold | $ | |
$ |
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