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please resolve Crane Equipment Company manufactures and distributes industrial air compressors. The following data are available for the year ended December 31, 2022. The company
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Crane Equipment Company manufactures and distributes industrial air compressors. The following data are available for the year ended December 31, 2022. The company had no beginning inventory. In 2022, it produced 1,420 units but sold only 1,160 units The unit selling price was $4,510. Costs and expenses were as follows: $ 780 Variable costs per unit Direct materials Direct labour Variable manufacturing overhead Variable selling and administrative expenses 1,390 220 65 Annual fixed costs and expenses Fixed manufacturing overhead $ 1,194,100 Selling and administrative expenses 100,400 Prepare a 2022 income statement for Crane Company using throughout costing CRANE EQUIPMENT COMPANY Income Statement December 31, 2022 For the Month Ended December 31, 2022 For the Year-Ended December 31, 2022 + Prepare a 2022 income statement for Crane Company using throughout contine CRANE EQUIPMENT COMPANY Income Statement Throughput Costing Total perting expenses Cost of goods old Variable costs Variable costs of goods available for sale Operating expenses Variable cost of goods sold Total fixed costs Sales Operating income before tax Variable manufacturing overhead Faced manufacturing overhead Throughout contribution margin Fixed costs Total variable costs Variable seting and administrative expenses Direct labu Ford selling and administrative expenses 0.74/1 CRANE EQUIPMENT COMPANY Income Statement For the Year-Ended December 31, 2022 Throughput Costing Sales $ Less : Variable cost of goods sold Throughput contribution margin Less 2 : Operating expenses 4 Direct labour $ 1612400 Variable manufacturing overhead 255200 Variable selling and administrative expenses 75400 Fixed manufacturing overhead 1194100 i we Fixed selling and administrative expenses 100400 i Total operating expenses E Operating income before tax e Textbook and Media Assistance Used CRANE EQUIPMENT COMPANY Income Statement For the Year-Ended December 31, 2022 Throughput Costing $ 5231600 2847800 tof goods sold 2383800 n margin expenses $ 1612400 255200 eg overhead ministrative expenses 75400 1194100 i overhead 100400 ministrative expenses 3207500 enses 3207500 before tax e Textbook and Media Assistance Used e Textbook 1 Step by Step Solution
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