Income Statement. Jean and Tom Perritz own and manage Happy Home Helpers, Inc. (HHH), a house-cleaning service. Each deaning (deaning one house one time) takes a team of three house deaners about 1.5 hours. On average, HHH completes about 15,000 cleanings per year. The following total costs are associated with the total cleanings: Direct materials Direct labor Variable overhead Fixed overhead $475,000 15,000 18,000 Next year, HHH expects to purchase $26,600 of direct materials. Projected beginning and ending inventories for direct materials are as follows: Beginning Ending Direct Materials Inventory $4,000 2,600 There is no work-in-process inventory and no finished goods inventory; in other words, a cleaning is started and completed on the same day. HHH expects to sell 15,000 cleanings at a price of $50 each next year. Total selling expense is projected at $21,000, and total administrative expense is projected at $53,000. Required: 1. Prepare an income statement in good form. Happy Home Helpers, Inc. Income Statement For the Coming Year Check My Work 3 more Check My Work uses remaining Previous