Jasper Company provided the following information for last year:

Costs	Amount
Sales in units	280,000
Selling price	$12
Direct materials	180,000
Direct labor	505,000
Manufacturing overhead	110,000
Selling expense	437,000
Administrative expense	854,000

Last year, beginning and ending inventories of work in process and finished goods equaled zero.

Required:

1.

Prepare an income statement for Jasper for last year. Calculate the percentage of sales for each line item on the income statement. Round percentages to the nearest tenth of a percent.

Jasper Company

Income Statement

1		Sales & Expenses	Percent of Sales
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