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need help in solving this problems.. please have it in the same format that i have it. Round your intermediate calculations to the nearest whole
need help in solving this problems.. please have it in the same format that i have it.
Round your intermediate calculations to the nearest whole dollar.) Answer is not complete. HAYEK BIKES Absorption Costing Income Statement Sales 384,000 C Less: Cost of goods sold 162,000O 60,000 Variable production costs Fixed overhead costs Cost of goods sold Gross margin Selling general and administrative expenses Variable selling and administrative expenses Fixed selling and administrative costs 222,000 162 000 15500 80,000 Total selling general and administrative expenses Net income (loss) 95,600 Net income under absorption costing is higher than net income under variable costing by Fixed costs added to inventory
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