Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Please help me with qa) PLS DO FOLLOW THE TABLE FORMAT WITH THE GIVEN DROPDOWN LISTS. THIS IS ONLY ONE ABSORPTION-COSTING INCOME STATEMENT, PLS MAKE

Please help me with qa) PLS DO FOLLOW THE TABLE FORMAT WITH THE GIVEN DROPDOWN LISTS. THIS IS ONLY ONE ABSORPTION-COSTING INCOME STATEMENT, PLS MAKE UR ANSWER STRAIGHT FOWARD AND FOLLOW THE TABLE FORMAT WITH THE GIVEN DROPDOWN LIST IN QUESTION A). I NEED THIS ASAP,

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
The Bet Company manufactures and sells personal organizers. The following are the operating date for the company for 2021 and 2022: 2021 2022 Units produced 62.400 52,000 Units sold 56,160 56,160 Selling price per unit $285.00 $285.00 Variable costs per unit Direct materials $85.00 $85.00 Direct labour 45.00 45.00 Variable overhead 40.00 40.00 Selling expenses 35.00 35.00 Fixed manufacturing overhead (total) $2.620.800 $2.620,800 Fixed selling and administrative expenses (total) $312,000 $312,000 There was no beginning inventory on January 1, 2021. The company used the FIFO method to calculate the cost of inventories. Ignore income taxes.(a) Prepare income statements for 2021 and 2022 using the absorption-costing method. (Round per unit calculations to 2 decimal places, e.g. 15.25 and final answers to O decimal places, e.g. 125.) BETCOMPANY Absorption-Costing Income Statement 2022 December 31 Sales in units For the Months Ended December 31 For the Years Ended December 31 $ $(a) Prepare income statements for 2021 and 2022 using the absorption-costing method. (Round per unit calculations to 2 decimal places, eg. 15.25 and final answers to O decimal places, e.g. 125.) BETCOMPANY Absorption-Costing Income Statement 2021 2022 Sales in units V Cost of goods sold Manufacturing overhead Sales Gross profit Net Income Cost of goods manufactured Operating expenses Contribution margin 5 Cost of goods available for sale Selling and administrative costs(a) Prepare income statements for 2021 and 2022 using the absorption-costing method. (Round per unit calculations to 2 decimal places, e.g. 15.25 and final answers to O decimal places, e.g. 125.) BETCOMPANY Absorption-Costing Income Statement 2021 2022 Sales in units TT Add Less

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

Financial Accounting Theory And Analysis Text And Cases

Authors: Richard G Schroeder, Myrtle W Clark, Jack M Cathey

13th Edition

1119577772, 9781119577775

More Books

Students also viewed these Accounting questions