Petro Frozen Federe. Proces ten poze. For the 90,00 Deproduct that is Direct materials Director 560.000 Variable overhead 25.000 Fored head 220.000 tvar Petre expects to purchase $112.00 of direct material Projected to dete Direct Material Work in Process Inventory Inventory Beginning 59.600 5532.500 Next yearPlatio expects to produce 50.000 units and set 49.300 m2 Decet $12.50 h Beginning aytished good 342,500, und ending to test goods is expected to be 534,000. Totalling expenses 26.000 de led Required: 1. Prepare an income statement in good form. Round the percent to four decimal places betere converting to a percentage. Ved 1834 odid De rounded to 0234 entered a 38.35 Note: to rounding percentage may not add tonn Pietro Frozen Foods, Inc. Income Statement For the Coming Year Percent Cost of goods sold 3 1. Prepare an income statement in good form. Round the percent to four decimal places before converting to a percentage versamel, 1839 would be rounded to 1833 and entered as 38.35 Note: due to rounding percentages may not add down, Pietro Frozen Foods, Inc. Income Statement For the Coming Year Dercent Cost of goods sold Less operating experies: 2. What if the cost of goods sold percentage for the past few years was 65 percent Management's reaction might be: tre food income De 270.00 Otect Works Taway 5.000 H ning 1. rain.com mantingom het tot die Note to roundine Pietre Per Food Income Statement For the Coming Year Cost of goods QUI DO 2. What the cost of rods font percentage for the past few years was e permet unatemente reaction night be Pietro Frozen Foods, Inc. produces froten pizzas. For next year, Pietro predicts that 50,000 units will be produced, with the following total costs Direct materials Direct labor 560.000 Variable overhead 25,000 Fixed overhead 220.000 Next year, Pietro expects to purchase $119.900 of direct materials projected beginning and ending inventories for direct materials and work in process are as follows: Direct Materials Work in Process Inventory Inventory Beginning $5,600 $12.500 Ending 4,900 14,600 Next year, Pietro expects to produce 50,000 units and sell 49,300 units at a price of $12.50 each. Beginning inventary of finished goods is 342.900, and ending inventory or freshed coods is expected to be $34.000. Total selling expense is projected at $26.000, and total administrative expensels projected at $14.000 Required: 1. Prepare an income statement in good form. Round the percent to four decimal places before converting to a percentage. For example, 41300 would be rounded to and entered as 88.35 Note: due to rounding, percentages may not add down. Pietro Frozen Foods, Inc. Income Statement For the Coming Year Percent Cost of goods sold 88 Note: due to rounding, percentages may not add down. Pietro Frozen Foods, Inc. Income Statement For the Coming Year Percent Cost of goods sold % % % Less operating expenses: 3 % 2. What if the cost of goods sold percentage for the past few years was 65 percent? Management's reaction might be
