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need to figure out the coat of goods sold and selling and administrative expenses Diaz Company reports the following variable costing income statement for its
need to figure out the coat of goods sold and selling and administrative expenses
Diaz Company reports the following variable costing income statement for its only product. Sales total 58,000 units, but production was 98.000 units. Diaz had no beginning finished goods inventory. DIAZ COMPANY Income Statement (variable costing) Sales (58,eee units $68.00 per unit) $ 3,944, Variable expenses Variable cost of goods sold (58,eee units * $28.80 per unit) $ 1,678,480 Variable selling and administrative expenses (58,eee units $5.8e per unit) 336, 4ee 2,006,8 Contribution margin 1,937,2 Fixed expenses Fixed overhead 422,400 211,200 Fixed selling and administrative expanse 633,6 Income $ 1,383,6 Prepare an absorption costing income statement $ 3,944,000 DIAZ COMPANY Income Statement (Absorption Costing) Sales Cost of goods sold Gross profit olin mini 3.944,000 Check my work $ 3,944, see DAL COMPANY Income Statement (Variable Costing) Lales SOX 000 units $68.00 per unit) fariable expenses Variable cost of goods sold (58,000 units $28.80 per unit) Variable selling and administrative expenses (58,eee units $5.88 per unit) Contribution margin Sixed expenses Fixed overhead Fixed selling and administrative expense income $ 1,678,400 336, 40 2,685,800 1,937,200 422, 4ee 211,200 633,5ee $ 1,303,600 pare an absorption costing income statement $ 3.944,000 DIAZ COMPANY Income Statement (Absorption Costing) les of goods sold oss profil Mling and administrative expenses come 3,944,000 $ 3,944,000 Ure Prepare an absorption costing income statement. $ 3,944,000 DIAZ COMPANY Income Statement (Absorption Costing) Sales Cost of goods sold Gross profit Selling and administrative expenses Income 3.944,000 $ 3,944,000 Step by Step Solution
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