eBook

Prepare an income statement in good form. Round the percent to four decimal places before converting to a percentage. For example, $88349$ would be rounded to $\mathrm{.}8835$ and entered as $88\mathrm{.}35.$

Bob's Bistro

Income Statement

For the Coming Year

$\backslash$table$[[,,$Percent$],[$Sales $,$$$817,500,,\%$

Income Statement

Bob's Bistro produces party$-$sized hoagie sandwiches. For next year, Bob's Bistro predicts that $55,200$ units will be produced with the following total costs:

$\backslash$table$[[$Direct materials,?$],[$Direct labor,$30,000],[$Variable overhead,$180,000],[$Fixed overhead,$1800]]$

Next year, Bob's Bistro expects to purchase $$119,000$ of direct materials. Projected beginning and ending inventories for direct materials and work in process are as follows

$\backslash$table$[[,\backslash$table$[[$Direct materials$],[$Inventory$]],\backslash$table$[[$Work$-$in$-$Process$],[$Inventory$]]],[$Beginning$,$$$5,000,$$$12,000$