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i need help answering the question for the month ended may 31st for now Absorption Costing Income Statement-May Big Sky Creations Company Sraced ce a
i need help answering the question for the month ended may 31st for now
Absorption Costing Income Statement-May Big Sky Creations Company Sraced ce a hakee Score: 26/65 Absorption Costing Income Statement For the Month Ended May 31 Sales $924,300.00 Cost of goods sold: Cost of goods manufactured Inventory, May 31 Sales $924,300.00 Manufacturing costs: Direct materials $354,000.00 Direct labor 94,400.00 Variable manufacturing cost 47,200.00 Fixed manufacturing cost 55,500.00 Selling and administrative expenses: Variable $30,810.00 25.675.00 Fixed Required: Using the absorption costing concept, prepare income statements for (6) May and (b) June. 2. Using the variable costing concept, prepare income statements for () May and (b) June 3a. Explain the reason for the differences in operating income in (1) and (2) for May 3b. Explain the reason for the differences in operating income in (1) and (2) for June. 4. Based on your answers to (1) and (2), did Big Sky Creations Company operate more profitably in May or in June? Explain "Be sure to complete the statement heading. Refer to the list of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. A colon () will automatically appear if it is required. Enter amounts as positive numbers unless the amount is a calculation that results in a negative amount. For example: Net loss should be negative. Labels and Amount Descriptions Labels June 30 Cost of goods sold Fixed costs For the Month Ended June 30 For the Month Ended May 31 May 31 Variable cost of goods sold Amount Descriptions Contribution margin Contribution margin ratio Labels and Amount Descriptions Amount Descriptions Contribution margin Contribution margin ratio Cost of goods manufactured Fixed manufacturing costs Fixed selling and administrative expenses Gross profit Operating income Inventory, June 1 Inventory, May 31 Operating loss Manufacturing margin Labels and Amount Descriptions pcraung Toss Manufacturing margin Planned contribution margin Sales Sales mix Selling and administrative expenses Total cost of goods sold Total fixed costs Total variable cost of goods sold Variable cost of goods manufactured Variable selling and administrative expenses Absorption Costing Income Statement-May Big Sky Creations Company Sraced ce a hakee Score: 26/65 Absorption Costing Income Statement For the Month Ended May 31 Sales $924,300.00 Cost of goods sold: Cost of goods manufactured Inventory, May 31 Sales $924,300.00 Manufacturing costs: Direct materials $354,000.00 Direct labor 94,400.00 Variable manufacturing cost 47,200.00 Fixed manufacturing cost 55,500.00 Selling and administrative expenses: Variable $30,810.00 25.675.00 Fixed Required: Using the absorption costing concept, prepare income statements for (6) May and (b) June. 2. Using the variable costing concept, prepare income statements for () May and (b) June 3a. Explain the reason for the differences in operating income in (1) and (2) for May 3b. Explain the reason for the differences in operating income in (1) and (2) for June. 4. Based on your answers to (1) and (2), did Big Sky Creations Company operate more profitably in May or in June? Explain "Be sure to complete the statement heading. Refer to the list of Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. A colon () will automatically appear if it is required. Enter amounts as positive numbers unless the amount is a calculation that results in a negative amount. For example: Net loss should be negative. Labels and Amount Descriptions Labels June 30 Cost of goods sold Fixed costs For the Month Ended June 30 For the Month Ended May 31 May 31 Variable cost of goods sold Amount Descriptions Contribution margin Contribution margin ratio Labels and Amount Descriptions Amount Descriptions Contribution margin Contribution margin ratio Cost of goods manufactured Fixed manufacturing costs Fixed selling and administrative expenses Gross profit Operating income Inventory, June 1 Inventory, May 31 Operating loss Manufacturing margin Labels and Amount Descriptions pcraung Toss Manufacturing margin Planned contribution margin Sales Sales mix Selling and administrative expenses Total cost of goods sold Total fixed costs Total variable cost of goods sold Variable cost of goods manufactured Variable selling and administrative expenses Step by Step Solution
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