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Net sales Cost of goods sold Gross profit Expenses Operating expenses Rent expense Administration expense Total expenses Profit before income tax Income tax expense
Net sales Cost of goods sold Gross profit Expenses Operating expenses Rent expense Administration expense Total expenses Profit before income tax Income tax expense Profit FFT Corporation Income Statement Year Ended December 31, 2020 GA 350,000 210,000 140,000 40,000 22,000 15,000 77,000 63,000 20,000 43,000 Net sales Cost of goods sold Gross profit Expenses Operating expenses Administration expense Rent expense Total expenses Profit before income tax Income tax expense Profit FFT Corporation Budgeted Income Statement Year Ended December 31, 2020 EA 44,000 24,000 15,500 340,000 220,000 120,000 83,500 36,500 14,000 $ 22,500 Net sales Cost of goods sold Gross profit Expenses Operating expenses Administration expense Rent expense Total expenses Profit before income tax Income tax expense Profit Static Budget Variance Actual for the year Static for the year Variance U/F
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Managerial Accounting
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
12th Edition
978-0073526706, 9780073526706
