Instructions

Income Statement

Shaded cells have feedback

Baxter Company sold $8,600$ units at $$140$ per unit. Normal production is $9,000$ units

Standard: $5$ yards per unit at $$630$ per yard

Actual yards used: $43,240$ yards at $$625$ per yard

Standard: $3\mathrm{.}00$ hours per unit at $$1700$ Actual hours worked $25,550$ hours at $$1690$ per hour

Standard variable overhead at $$1\mathrm{.}05$ per unit

Standard: fixed overhead $$202,500($budgeted and actual

Actual total factory overhead $$236,000$

amount$)$

Required:

Prepare an income statement that includes vaniances 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 uniess the amount is a calculation that results in a negative amount. For example Net loss should be negative Expenses should be positive

Prepare an income statement that includes vanances for the year ending December $31$ through gross profit for Baxter Company using the above information. Do no$.$ 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.

$\backslash$table$[[,,\backslash$table$[[$Baxter Company$],[$Income Statement Through G$],[$For the Year Ending Decer$]],$Profit,,Score: $\frac{8}{48}$