Income Statement 10 Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pletro predicts that...

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Income Statement 10 Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pletro predicts that 50,000 units will be produced, with the following total costs: Direct materials Direct labor Variable overhead Fixed overhead $60,000 25,000 220,000 Next year, Pietro expects to purchase $119,300 of direct materials, Projected beginning and ending inventories for direct materials and work in process are as follows: Beginning Direct Materials Inventory $5,600 Work-in-Process Inventory $12,500 Ending 4.900 14,600 Next year, Pietro expects to produce 50,000 units and sell 49,300 units at a price of $12.50 each. Beginning inventory of finished goods is $42,500, and ending inventory of finished goods is expected to be $34.000 Total selling expense is projected at $26,000, and total administrative expense is projected at $134,000. Required: 1. Prepare an income statement in good form, Round the percent to four decimal places before converting to a percentage. For example, 3349 would be rounded to 835 and entered as BB.35 Note: due to rounding, percentages may not ild down Check My Work Income Statement 10 Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pletro predicts that 50,000 units will be produced, with the following total costs: Direct materials Direct labor Variable overhead Fixed overhead $60,000 25,000 220,000 Next year, Pietro expects to purchase $119,300 of direct materials, Projected beginning and ending inventories for direct materials and work in process are as follows: Beginning Direct Materials Inventory $5,600 Work-in-Process Inventory $12,500 Ending 4.900 14,600 Next year, Pietro expects to produce 50,000 units and sell 49,300 units at a price of $12.50 each. Beginning inventory of finished goods is $42,500, and ending inventory of finished goods is expected to be $34.000 Total selling expense is projected at $26,000, and total administrative expense is projected at $134,000. Required: 1. Prepare an income statement in good form, Round the percent to four decimal places before converting to a percentage. For example, 3349 would be rounded to 835 and entered as BB.35 Note: due to rounding, percentages may not ild down Check My Work