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Please help me fill out the income statement for the year ending Decmeber 31 using the information provided. Baxter Company sold 8,800 units at $125

Please help me fill out the income statement for the year ending Decmeber 31 using the information provided. image text in transcribed
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Baxter Company sold 8,800 units at $125 per unit. Normal production is 9,200 units. Prepare an income statement that includes variances for the year ending December 31 through gross profit for Baxter Company using the above information. Enter favorable variances as negative numbers. Do not round fixed overhead rate calculation when determining fixed factory overhead volume variance. Baxter Company Income Statement Through Gross Profit For the Year Ending December 31 Sales Cost of goods sold-at standard Gross profit-at standard Unfavorable Favorable Less variances from standard cost Direct materials price Direct materials quantity Direct labor rate Direct labor time Factory overhead controllable Factory overhead volume Net variance from standard cost-unfavorable Gross profit-actual

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