Label and Amount Destine Income Statement Instructions Only 3, 2016. the end of the month of t h e Dog SA Rhys Company Income Statement - Absorption Costing For the Month Ended July 31, 2016 + Sales 196,000 units > Cost of goods sold 1 Cost of goods manufactured $3,120,000.00 Less ending inventory (24.000 units) 624.000.00 5 Cost of goods sold . Gross profit Selling and administrative expenses Income from operations 2.496.000.00 $1.94400000 288.000.00 $1,656,000.00 Labels and Amount Descriptions mpd - Va costing in pined. ed Labels and Amount Descriptions Contribution margin Cost of goods manufactured Ending inventory Fixed costs Fixed manufacturing costs Fixed selling and administrative expenses me from FO Gross profit from ope Income from operations om operat Manufacturing margin Sales Variable cost of goods manufactured Variable cost of goods sold Variable selling and administrative expenses yama Company 2016 For More Income Statement A. Prepare a variable costing income statement, assuming that the fixed manufacturing costs were $132,000 and the variable selling and administrative expenses were $115,200. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. Less" or "Plus" and colons will automatically appear if it is required. In your computations, round unit costs to two decimal places and round final answers to the nearest dollar Rhys Company Income Statement - Variable Costing For the Month Ended July 31, 2016 2 (Label) (Label) Reconciliation B. Reconcile the absorption costing income from operations of $1,656,000 with the variable costing income from operations previously determined. Rhys Company Income from Operations - Absorption vs. Variable Costing For the Month Ended July 31, 2016 1 Absorption costing income from operations 2 Variable costing income from operations 3 Difference Calculator Print Item Variable costing income statement Instructions Labels and Amount Descriptions Income Statement Reconciliation Instructions On July 31, 2016, the end of the first month of operations, Rhys Company prepared the following income statement, based on the absorption costing concept: Rhys Company Income Statement - Absorption Costing For the Month Ended July 31, 2016 $4,440,000.00 Sales (96,000 units) $3,120,000.00 624,000.00 Cost of goods sold: Cost of goods manufactured Less ending inventory (24,000 units) Cost of goods sold Gross profit Selling and administrative expenses 2,496,000.00 $1,944,000.00 288,000.00 $1,656,000.00 Income from operations Required: Labels and Amount Descriptions Labels and Amount Descriptions Contribution margin Cost of goods manufactured Ending inventory Fixed costs Fixed manufacturing costs Fixed selling and administrative expenses Gross profit Income from operations Manufacturing margin Sales Variable cost of goods manufactured Variable cost of goods sold Variable selling and administrative expenses Income Statement A. Prepare a variable costing income statement, assuming that the fixed manufacturing costs were $132,000 and the variable selling and administrative expenses were $115,200. Refer to the Labels and Amount Descriptions list provided for the exact wording of the answer choices for text entries. "Less" or "Plus" and colons will automatically appear if it is required. In your computations, round urvit costs to two decimal places and round final answers to the nearest dollar Rhys Company Income Statement - Variable Costing For the Month Ended July 31, 2016 2 (Label) 9 Label) Profit Calculator PrintHem Variable costing income statement Instructions Labels and Amount Descriptions Income Statement Reconciliation Reconciliation B. Reconcile the absorption costing income from operations of $1,656,000 with the variable costing income from operations previously determined Rhys Company Income from Operations. Absorption vs. Variable Costing For the Month Ended July 31, 2016 Absorption costing income from operations 2 Variable costing income from operations 3 Difference
