PLEASE HELP TIMED TEST DUE IN ONE HOUR I WILL GIVE GOOD RATING
Variable costing income statement Instructions Labels and Amount Descriptions Variable Costing Income Statement Instructions On November 30, the end of the first month of operations, Weatherford Company prepared the following income statement, based on the absorption costing concept: Weatherford Company Absorption Costing Income Statement For the Month Ended November 30 $3,920,000.00 3 $2,608,000.00 1 Sales (28,000 units) 2 Cost of goods sold: Cost of goods manufactured (32,600 units) Inventory, November 30 (4,600 units) Total cost of goods sold 6 Gross profit 4 (368,000.00) 5 2,240,000.00 $1,680,000.00 7 Selling and administrative expenses 175,000.00 Instructions Labels and Amount Descriptions Variable Costing Income Statement $2,608,000.00 4 (368,000.00) Instructions 2 Cost of goods sold: 3 Cost of goods manufactured (32,600 units) Inventory, November 30 (4,600 units) Total cost of goods sold 6 Gross profit 7 Selling and administrative expenses 8 Income from operations 5 2,240,000.00 $1,680,000.00 175,000.00 $1,505,000.00 If the fixed manufacturing costs were $260,800 and the fixed selling and administrative expenses were $140,000, 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. A colon () will automatically appear if required. Enter all amounts as positive numbers. Round your cost per unit answer to two decimal places and final answers to nearest whole dollar. Labels and Amount Descriptions Labels Fixed costs For the Month Ended November 30 November 30 Amount Descriptions Contribution margin Contribution margin ratio Fixed manufacturing costs Fixed selling and administrative expenses Gross profit Income from operations Inventory, November 30 Loss from operations Manufacturing margin Planned contribution margin Sales Sales Sales mix Total fixed costs Total variable cost of goods sold Variable cost of goods manufactured Variable cost of goods sold Variable selling and administrative expenses Variable costing income statement Instructions Labels and Amount Descriptions Variable Costing Income Statement Variable Costing Income Statement If the fixed manufacturing costs were $260,800 and the fixed selling and administrative expenses were $140,000, 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. A colon (-) will automatically appear if required. Enter all amounts as positive numbers. Round your cost per unit answer to 2 decimal places & final answers to nearest whole dollar. Weatherford Company Variable Costing Income Statement (Label) 1 2 3 4 Variable costing income statement Instructions Labels and Amount Descriptions Variable Costing Income Statement Variable Costing Income Statement 2 3 4 5 6 7 8 9 (Label) 10 11 12 13
