Instructions Income Statement Instructions Through the gross profit for Baxter Company using the following information. Baxter Company sold 8,000 units at $140 per unit. Normal production is 1.000 units Standard: 5 yards per unit at $6.30 per yard Standard: 3.00 hours per unit at $17.00 Standard variable overhead s05 per un Actual yards used: 43,240 yards at $6.25 per yard Actual hours worked: 25,550 at $16.90 per hour Standard: fixed overhead $202,500 (budgeted and actual amount) Actual total factory overhead: $236.000 Required: Prepare an income statement for the year ended December 31. Do not round fixed overhead rate calculation when determining fixed factory overhead volume variance. Enter all amounts as positive numbers. Det Showtime