Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

fill in all the blanks to crear an income statement for said year using throughput costing Crane Equipment Company manufactures and distributes industrial air compressors.

fill in all the blanks to crear an income statement for said year using throughput costing
image text in transcribed
image text in transcribed
image text in transcribed
Crane Equipment Company manufactures and distributes industrial air compressors. The following data are available for the year ended December 31, 2022. The company had no beginning inventory. In 2022, it produced 1,420 units but sold only 1,160 units. The unit selling price was $ 4,510. Costs and expenses were as follows: $ 780 1,390 Variable costs per unit Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative expenses Annual fixed costs and expenses Fixed manufacturing overhead 220 65 $1,194,100 Selling and administrative expenses 100,400 Prepare a 2022 income statement for Crane Company using throughput costing CRANE EQUIPMENT COMPANY Income Statement December 31, 2022 for the Month Ended December 31, 2022 For the Year-Ended December 31, 2022 . Prepare a 2022 income statement for Crane Compowy using throughout costine CRANE EQUIPMENT COMPANY Income Statement Throughput Costing Totalberting expenses Cost of goods sold Variable costs Variable costs of goods available for sale Operating expenses Variable cost of goods sold Totalfixed costs Sales Operating income before tax Variable manufacturing overhead Freed manufacturing overhead Thout contribution margin Fixed costs Total variable costs Variable dating and administrative expenses Direct labour Feed selling and administrative expenses

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered 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

Intermediate Accounting

Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones

10th Edition

324300980, 978-0324300987

Students also viewed these Accounting questions

Question

What is management growth? What are its factors

Answered: 1 week ago