I'm not sure my answers are right, any help is appreciated![image text in transcribed](https://dsd5zvtm8ll6.cloudfront.net/si.experts.images/questions/2024/09/66f78bac4464c_17966f78babcb25a.jpg)
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Instructions Baxter Company sold 9,200 units at $130 per unit. Normal production is 9,600 units. Standard: 5 yards per unit at $6.30 per yard Actual yards used: 47,020 yards at $6.25 per yard Standard: 3.00 hours per unit at $17.00 Actual hours worked: 27,350 hours at $16.90 per hour Standard: variable overhead at $1.05 per unit Standard: fixed overhead $220,800 (budgeted and actual amount) Actual total factory overhead: $236,000 Required: Prepare an income statement that includes variances for the year ending December 31 through gross profit for Baxter Company using the above information. Do not round fixed overhead rate calculation when determining fixed factory overhead volume variance. Enter amounts as positive numbers unless the amount is a calculation that results in a negative amount. For example: Net loss should be negative. Expenses should be positive. Income Statement Prepare an income statement that includes variances for the year ending December 31 through gross profit for Baxter Company using the above information. Do not round fixed overhead rate calculation when determining fixed factory overhead volume variance. Enter amounts as positive numbers unless the amount is a calculation that results in a negative amount. For example: Net loss should be negative. Expenses should be positive. Income Statement Baxter Company Income Statement Through Gross Profit For the Year Ending December 31 1 Sales $1,196,000.00 2 Cost of goods sold-at standard 980,260.00 3 Gross profit-at standard $215,740.00 Unfavorable Favorable 5 Less variances from standard cost: 6 Direct materials price $2,351.00 7 Direct materials quantity $6,426.00 8 Direct labor rate 2,735.00 Direct labor time 4,250.00 10 Factory overhead controllable 5,540.00 9,200.00 11 Factory overhead volume 12 Net variance from standard cost-unfavorable 11,830.00 13 Gross profit-actual $203,910.00