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Income Statement Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that 4 9 , 2 0 0 units will be produced,
Income Statement Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that units will be produced, with the following total costs: Direct materials Direct labor Variable overhead Fixed overhead Next year, Pietro expects to purchase $ of direct materials. Projected beginning and ending inventories for direct materials and work in process are as follows: Direct materials Inventory WorkinProcess Inventory Beginning $ $ Ending $ $ Next year, Pietro expects to produce units and sell units at a price of $ each. Beginning inventory of finished goods is $ and ending inventory of finished goods is expected to be $ Total selling expense is projected at $ and total administrative expense is projected at $ Required: Question Content Area Prepare an income statement in good form. Round the percent to four decimal places before converting to a percentage. For example, would be rounded to and entered as Note: due to rounding, percentages may not add down. Pietro Frozen Foods, Inc. Income Statement For the Coming Year Sales: $ Sales: Cost of goods sold: $ Cost of goods sold: Gross margin: $ Gross margin: Less operating expenses: $ Selling expenses: $ Administrative expenses: $ Administrative expenses: Operating income: $ and
Income Statement
Pietro Frozen Foods, Inc., produces frozen pizzas. For next year, Pietro predicts that units will be produced, with the following total costs:
Direct materials
Direct labor
Variable overhead
Fixed overhead
Next year, Pietro expects to purchase $ of direct materials. Projected beginning and ending inventories for direct materials and work in process are as follows:
Direct materials
Inventory WorkinProcess
Inventory
Beginning $ $
Ending $ $
Next year, Pietro expects to produce units and sell units at a price of $ each. Beginning inventory of finished goods is $ and ending inventory of finished goods is expected to be $ Total selling expense is projected at $ and total administrative expense is projected at $
Required:
Question Content Area
Prepare an income statement in good form. Round the percent to four decimal places before converting to a percentage. For example, would be rounded to and entered as
Note: due to rounding, percentages may not add down.
Pietro Frozen Foods, Inc.
Income Statement
For the Coming Year
Sales: $
Sales:
Cost of goods sold: $
Cost of goods sold:
Gross margin: $
Gross margin:
Less operating expenses: $
Selling expenses: $
Administrative expenses: $
Administrative expenses:
Operating income: $ and
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