kodiak company income statement has 13 lines.
In Assembles and Sets Show Det Homework Help With Chege Study Cheg Foogle Search eBook Show Me How Print Item Instructions During the first month of operations ended August 31, Kodiak Fridgeration Company manufactured 60,000 mini refrigerators, of which 72.000 were sold Operating data for the month are summarized as follows: 1 Sales $10,800,000.00 Manufacturing costs Direct materials 3 56,400,000.00 Direct labor 1,600,000.00 1280,000.00 3 Variable manufacturing cost Fixed manufacturing cost Selling and administrative expenses . Variable 320,000.00 9,600,000.00 $1,080,000.00 180,000.00 Fixed 1,260.000.00 Previous Check My Work 4 more Check My Worces remaining 5 1,600,000.00 1.280,000.00 Variable manufacturing cost Fixed manufacturing cost 7 Selling and administrative expenses: 6 320,000.00 9,600,000.00 3 Variable $1,080,000.00 9 Fixed 180,000.00 1,260,000.00 Required: 1. Prepare an income statement based on the absorption costing concept." 2. Prepare an income statement based on the variable costing concept 3. Explain the reason for the difference in the amount of operating income reported in (1) and (2) "Be sure to complete the statement heading. Refer to the list of Labels and Amount Descriptions provided for the exact worting or the answer choices for text entries. A colon () will automatically appear if it is required Enter amounts as positive numbers unless the amount is a calculation that resuts in a negative amount. For example: Not loss should be negative. Check My Work 4 more Check My Work uses remaining Prev uctions Labels and Amount Descriptions Absorptic ctions abels and Amount Descriptions Labels August 31 Cost of goods sold Fixed costs For the Month Ended August 31 Variable cost of goods sold Amount Descriptions Contribution margin Contribution margin ratio Cost of goods manufactured Fixed manufacturing costs Fixed selling and administrative expenses Gross profit ck My Work 4 more Check My Work uses remaining. Absorption and variable costing income statements Instructions Labels and Amount Descriptions Absorptio Instructions Labels and Amount Descriptions Du Gross prorit Operating income sul Inventory, August 31 Loss from operations Manufacturing margin Planned contribution margin Sales Sales mix Selling and administrative expenses Total cost of goods sold Total fixed costs Total variable cost of goods sold Variable cost of goods manufactured Variable selling and administrative expenses 10. Check My Work 4 more Check My Work uses remaining. Instructions Labels and Amount Descriptions Absorption Costing Income Statement Kodiak Fridgeration Company Absorption Costing Income Statement (Label) 1 2 (Label) 3 4 5 6 7 B Check My Work 4 more Check My Work uses remaining. Variable Costing Income Statement Kodiak Fridgeration Company Variable Costing Income Statement (Label) 1 2 (Label) 3 4 5 6 7 8 9 (Label) 10 Absorption and variable costing income statements Instructions Labels and Amount Descriptions Absorption Coating Income Statement Variable Costing Income Statement Final Question 3. Explain the reason for the difference in the amount of operating income reported in (1) and (2) The Operating income reported under costing exceeds the Operating income reported under costs that are deferred to a future month under costing costing due to manufacturing Previous eck My Work 4 more Check My Work uses remaining
