Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please fill out the Variable Costing Income Statement. On June 30, the end of the first month of operations, Bastile Company prepared the following income

Please fill out the Variable Costing Income Statement.

image text in transcribedimage text in transcribedimage text in transcribed

On June 30, the end of the first month of operations, Bastile Company prepared the following income statement, based on the absorption costing concept: Bastile Company Absorption Costing Income Statement For the Month Ended June 30, 2016 2,940,000.00 1 Sales (21,000 units) 2 Cost of goods sold: 3Cost of goods manufactured (24,400 units) $1,952,000.00 272,000.00 Less ending inventory (3,400 units) Cost of goods sold 1,680,000.00 $1,260,000.00 150,000.00 $1,110,000.00 6 Gross Profit 7 Seling and administrative expenses Income from operations If the fixed manufacturing costs were $195,200 and the variable selling and administrative expenses were $105,000 prepare an income statement according to the variable costing concept. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. "Less", "Plus" or colons (:) will automatically appear if required. If a net loss is incurred, enter that amount as a negative number using a minus sign

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

Transportation Division Department Of Commerce Report On Preliminary Performance Audit Survey

Authors: Montana. Legislature. Office Of The Legi

1st Edition

1245445294, 978-1245445290

More Books

Students also viewed these Accounting questions