Answered step by step
Verified Expert Solution
Question
1 Approved Answer
During 2022, Metlock Corp. produced 39,100 units and sold 39,100 for $15 per unit Variable manufacturing costs were $7 per unit Annual fixed manufacturing overhead
During 2022, Metlock Corp. produced 39,100 units and sold 39,100 for $15 per unit Variable manufacturing costs were $7 per unit Annual fixed manufacturing overhead was $117.300 ($3 per unit). Variable selling and administrative costs were $2 per unit sold and fixed selling and administrative expenses were $19,200. Prepare a variable-costing income statement. MetlockCorp. Income Statement-Variable Costing Sales 586500 Variable costs Less V Variable costs $ Fixed manufacturing overhead Fixed selling and administrative expenses Total variable costs Variable selling and administrative expenses Fixed costs Operating income Sales Variable costs Total fixed costs Variable cost of goods sold Contribution margin
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started