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Please help correct fields in red and any missing areas. Thanks. QS 19-3 Variable costing income statement LO P2 Aces Inc., a manufacturer of tennis
Please help correct fields in red and any missing areas. Thanks.
QS 19-3 Variable costing income statement LO P2 Aces Inc., a manufacturer of tennis rackets, began operations this year. The company produced 5,700 rackets and sold 4,600. Each racket was sold at a price of $87. Fixed overhead costs are $72,390 and fixed selling and administrative costs are $64,900. The company also reports the following per unit costs for the year: Variable product costs Variable selling and administrative expenses $ 24.70 $ 1.70 Prepare an income statement under variable costing Answer is not complete ACES INC. Variable Costing Income Statement Sales $ 400,200 Less: Variable costs Variable product costs Variable selling and administrative Variable selling and administrative expenses 140,790 enses 140,790 113.620 Contribution margin Less F Fixed expenses Fixed overhead costs $ 72,390 64,900 Fixed selling and administrative costs Total fixed expenses Net income (loss) 137,290 $ 141,470Step by Step Solution
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