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Manning Company produced and sold 45,000 units of a single product last year, with the following results: Sales Revenue $1,350,000 Manufacturing costs: Variable 585,000 Fixed
Manning Company produced and sold 45,000 units of a single product last year, with the following results:
Sales Revenue | $1,350,000 |
Manufacturing costs: |
|
Variable | 585,000 |
Fixed | 270,000 |
Selling costs: |
|
Variable | 40,500 |
Fixed | 54,000 |
Administrative costs: |
|
Variable | 184,500 |
Fixed | 108,000 |
Prepare a traditional format income statement.
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