Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Complete an income statement for the following company under the variable, absorption and throughput costing concepts as well as give the value of the ending

Complete an income statement for the following company under the variable, absorption and throughput costing concepts as well as give the value of the ending inventory.
Sanyang International LLC. Has the following information is for the fiscal year ending December 31, 2020
Begin Inventory 0
Units Produced 600,000
Units Sold 554,000 Break down of
Sales Price Per Unit $55 Variable Manufacturing Cost
Unit Variable Manufacturing Cost $25 Material $10
Unit Variable Operating Cost Direct Labor $9
Per Unit Sold $3 Variable OH $6
Fixed Manufacturing Cost $350,000 Total $25
Fixed Operating Cost $250,000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

For Mowen/hansen/heitgers Cornerstones Of Managerial Accounting, 6th Edition, [instant Access]

Authors: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

6th Edition

1305280768, 9781305280762

More Books

Students also viewed these Accounting questions

Question

What factors affect the market rates for bonds?

Answered: 1 week ago