Old MathJax webview

Old MathJax webview

Homepage - Southern New Hampshire University Zybooks StreamlinedDIY Beck Show Me How The Standarting and Variable conting Galath County Matosine mbles and sells snowmobile engines. The company began operations on July 1 and operated at 100% of capacity during the first month. The following data summarize the results for luly: Sales (14.300 51,885,000 Producten. 19.000) Direct materia 5913,900 Det bor 438,900 Variable factory overhead 218,500 140,300 1,717,600 Fredactory overhead Selling and distrative expenses Vi selling and administrative expenses edwing and administrative expenses $266 200 193.100 360 300 required. Found interim per unit calculations to the nearest cent a. Prepare an income statement according to the absorption costing concupt Gallatin County Motors Inc. Absorption Costing Income Statement For the Month Ended July 31 Grafit DODOU Selling and administrative CESES Dincome Feedback Check My Work Under absorption costing the cost of goods manufactured indudes direct materials, direct labor, and factory overhead costs. Both fixed and variable factory costs are included as part of factory overhead b. Prepare an income statement acording to the variable costing concept Galiatin County Motors Inc Variable Casting Income Statement For the Month Ended July 31 Sales Variable cost of goodsald: Manufacturing maruin Variable selling and administrativa pensas Contributin margin- Red costs Fixed factory overhead costs Fixselling and administrative expenses Tored.costs bidad 0 OO Operating income Feathan Check My Wwk hundar variable en ting, the cost of yoods manufactured includes only variable manutacturing costs Income statement ave a higher peting income what is the reason for the difference in the amount of operating income reported in (a) and (b) der the absorption casting method, the fixed manufacturing cost included in the cost of goods sold is matched with the revenues. Under variatie casting all of the fixed manufacturing cost is deducted in the period in which it is incurred, regardless of the amount of inventory change Thus, when Inventory increases the abortion costing O Save and test Stand Variable Couting Gattints and call nowmobile engines. The company began operations on July 1 and operated at 100% of capoty during the first month. The following data summange the results for July $1,685,000 D Det 1913,000 438.900 218,500 146,300 1,717,600 broad The factory Sing and date expenses: ang and administrave expenses Ragad administrative expenses $266,200 102 100 360.300 tim per unit calculations to the nearest cont income statement according to the absorption costing concept. Gallatin County Motors Inc. Absorption Costiny income statement For the Month Ended July 31 bici and administrative DEOSES Lime Fechada Check My Work Undet absorption conting, the cost of goods manutactured includes direct materials, direct laber, and Factory overhead cost. Both fixed and variable factory costs are included as part of factory overhead or an income statement according to the variable costing concept Gallatin County Motors in Variable Casting Income Statement For the Month Ended July 31 Versand cing manin Variable Selline and administrative expenses cention margin Du duboi Doordatory rhead costs Edelline and administrative expenses O F Cho er anable casting, the cost of goods manufactured includes only vanable manufacturing costs. con for the diference in the amount of operating income reported in (a) and (by? starption casting method, the hand manufacturing cast included in the cost of goods said to matched with the revenues Under variable costingv.all of the fixed manufacturing cost is deducted in the period in which it is incurred, regardless of the amount of inventory change. Thus when inventory Increase the absorption costing income statement will have higher operating Al work saved Email marco Income Statements under Absorption Costing and Variable Costing Gallatin County Motors Inc. assembles and sells snowmobile engines. The company began operations on July 1 and operated at 100% of capacity during the first month. The following data summarize the results for July: Sales (14,500 units) $1,885,000 Production costs (19,000 units): Direct materials $913,900 Direct labor 438,900 Variable factory overhead 218,500 Fixed factory overhead 146,300 1,717,600 Selling and administrative expenses: Variable selling and administrative expenses $266,200 Fixed selling and administrative expenses 103,100 369,300 If required, round interim per-unit calculations to the nearest cent. a. Prepare an income statement according to the absorption costing concept. Gallatin County Motors Inc. Absorption Costing Income Statement For the Month Ended July 31 Sales $ Cast of anods sold Production costs (19,000 units): Direct materials $913,900 Direct labor 438,900 Variable factory overhead 218,500 Fixed factory overhead 146,300 1,717,600 Selling and administrative expenses: Variable selling and administrative expenses $266,200 Fixed selling and administrative expenses 103,100 369,300 If required, round interim per-unit calculations to the nearest cent. a. Prepare an income statement according to the absorption costing concept. Gallatin County Motors Inc. Absorption Costing Income Statement For the Month Ended July 31 Sales Cost of goods sold Gross profit Selling and administrative expenses Operating income