Answered step by step
Verified Expert Solution
Question
1 Approved Answer
How do I calculate and get the percentages? Pietro Frozen Foods, Inc, produces frozen pizzas, For next year, Pietro predicts that 48,500 units will be
How do I calculate and get the percentages?
Pietro Frozen Foods, Inc, produces frozen pizzas, For next year, Pietro predicts that 48,500 units will be produced, with the following total costs: Direct materials Direct labor Variable overhead Fxed overhead Next year, Pietro expects to purchase 121,500 of direct materials. Projected beginning and ending inventories for direct materials and work in process are as follows 74,000 15,000 185,000 Direct materials Work-in-Process $6,000 $5,900 Inventory $13,000 $15,000 Bepinning Ending Next year, Pietro expects to produce 48,500 units and sell 47,800 units at a price of18.00 each. Beginning inventory of finished goods is $46,500, and ending inventory of finished goods is expected to be 38,000. Total selling expense is projected at $24,500, and total administrative expense is projected at $104,000. Required: 1. 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 .8835 and entered as 88.35 Pietro Frozen Foods, Inc. Income Statement For the Year Percent Sales 860,400100 402,100 458,300 %-/ Cost of goods solo Gross margin Less operating expenses: Selling expenses 24,500 dministrative expensesY 104,000 128,500 Operating income 329,800VStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored 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