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Oriole Company produces plastic that is used for injection-moulding applications such as gears for small motors. In 2022, the first year of operations, Orible Company
Oriole Company produces plastic that is used for injection-moulding applications such as gears for small motors. In 2022, the first year of operations, Orible Company produced 4 400 tonnes of plastic and sold 2,992 tonnes. In 2023, the production and sales results were exactly reversed. In sach year, the selling price pertanna was $1,900; variable manufacturing costs were 15% of the sale price for the units produced, variable selling expenses were 12% of the selling price of the units solc: faed manufacturing costs were $2.992,000; and fixed administrative expenses were $535,800. (a) Prepare comparative income statements for each year using variable costing. Use the format from Illustration 8.5.) ORIOLE COMPANY Income Statement-Variable Costing For the Years Ended December 31 2022 2023 Number of units manufactured 4400 Number of units sold 2992 Sales S 5.684800 S 8.3 La Variable cost of goods sold Intery beginning Costs of apods menusactured Coat of poods available for sale Inventory ending Vanisaland 2016 Verloble selling and ccminerales Contribution margin Fixed costs Lea Fhead sing and admiro IN Netcome
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