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CleanAir Company manufacturers a professional-grade vacuum cleaner and began operations in 2020. For 2020, CleanAir budgeted to produce and sell 27,000 units The company
CleanAir Company manufacturers a professional-grade vacuum cleaner and began operations in 2020. For 2020, CleanAir budgeted to produce and sell 27,000 units The company had no price, spending, or efficiency variances and writes off production-volume variance to cost of goods sold. Actual data for 2020 are given as follows (Click the icon to view the actual data for 2020.) Read the requirements Requirement 1. Prepare a 2020 income statement for CleanAir Company using variable costing Complete the top half of the income statement first, then complete the bottom portion (For amounts with a 50 balance, make sure to enter "0" in the appropriate input field.) Revenues Variable cost of goods sold Variable Costing. $ 6.930,000 Beginning inventory Variable manufacturing costs 2.124,000 Cost of goods available for sale 2.124.000 Deduct ending inventory (177,000) Variable cost of goods sold 1,947,000 660.000 Variable marketing costs Contribution margin 4323,000 Fed manufacturing costs Fixed administrative costs Fixed marketing costs Operating income (loss)
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