Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

not shown sales (6,700 units) 194,300cost of goods manufactured (7,900 units) $165,900inventory april 30th (1,100 units) (23,100) Total cost of goods sold (142,800) Gross profit

not shown sales (6,700 units) 194,300cost of goods manufactured (7,900 units) $165,900inventory april 30th (1,100 units) (23,100)

image text in transcribed
Total cost of goods sold (142,800) Gross profit $51,500 Selling and administrative expenses (31,950) Operating income $19,550 If the fixed manufacturing costs were $39,816 and the fixed selling and administrative expenses were $15,650, prepare an income statement according to the variable costing concept. Round all final answers to whole dollars. Joplin Company Variable Costing Income Statement For the Month Ended April 30 Sales 194,300 Variable cost of goods sold: Variable cost of goods manufactured 165,900 X Inventory, April 30 23,100 X Total variable cost of goods sold 142,800 X Manufacturing margik Variable selling and administrative expenses Contribution margin Fixed costs: Fixed manufacturing costs Fixed selling and administrative expenses Total fixed costs Operating income

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Economics Foundations of Business Analysis and Strategy

Authors: Christopher Thomas, S. Charles Maurice

11th edition

978-0078021718

Students also viewed these Accounting questions