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Prepare an income statement using variable costing. (Enter loss using either a negative sign preceding the number e.g. -2,945 or parentheses e.g. (2,945).) ASIAN WINDOWS
Prepare an income statement using variable costing. (Enter loss using either a negative sign preceding the number e.g. -2,945 or parentheses e.g. (2,945).)
ASIAN WINDOWS
Income Statement
December 31, 2020For the Month Ended December 31, 2020For the Year Ended December 31, 2020
Variable Costing
SalesTotal variable costsVariable costsContribution marginTotal fixed costsFixed costsNet income $ LessAdd: Contribution marginVariable costsNet incomeTotal variable costsTotal fixed costsSalesFixed costs Fixed selling and administrative expensesVariable costs of goods available for saleVariable cost of goods soldNet incomeFixed manufacturing overheadVariable selling and administrative expensesVariable costs of goods manufactured $ Fixed selling and administrative expensesFixed manufacturing overheadVariable cost of goods soldVariable costs of goods manufacturedVariable selling and administrative expensesVariable costs of goods available for saleNet income Net incomeContribution marginTotal fixed costsVariable costsSalesTotal variable costsFixed costs SalesFixed costsNet incomeTotal variable costsTotal fixed costsContribution marginVariable costs LessAdd: Contribution marginFixed costsTotal fixed costsSalesNet incomeVariable costsTotal variable costs Variable costs of goods available for saleVariable selling and administrative expensesFixed manufacturing overheadNet incomeVariable cost of goods soldVariable costs of goods manufacturedFixed selling and administrative expenses Variable selling and administrative expensesVariable costs of goods available for saleVariable cost of goods soldNet incomeFixed selling and administrative expensesVariable costs of goods manufacturedFixed manufacturing overhead Fixed costsTotal variable costsTotal fixed costsSalesVariable costsNet incomeContribution margin Net incomeContribution marginTotal variable costsTotal fixed costsSalesVariable costsFixed costs $
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Prepare an income statement using variable costing. (Enter loss using either a negative sign preceding the number e.g. -2,945 or parentheses e.g. (2,945).)
| ASIAN WINDOWS Income Statement December 31, 2020For the Month Ended December 31, 2020For the Year Ended December 31, 2020 Variable Costing | ||||
| SalesTotal variable costsVariable costsContribution marginTotal fixed costsFixed costsNet income | $ | |||
| LessAdd: Contribution marginVariable costsNet incomeTotal variable costsTotal fixed costsSalesFixed costs | ||||
| Fixed selling and administrative expensesVariable costs of goods available for saleVariable cost of goods soldNet incomeFixed manufacturing overheadVariable selling and administrative expensesVariable costs of goods manufactured | $ | |||
| Fixed selling and administrative expensesFixed manufacturing overheadVariable cost of goods soldVariable costs of goods manufacturedVariable selling and administrative expensesVariable costs of goods available for saleNet income | ||||
| Net incomeContribution marginTotal fixed costsVariable costsSalesTotal variable costsFixed costs | ||||
| SalesFixed costsNet incomeTotal variable costsTotal fixed costsContribution marginVariable costs | ||||
| LessAdd: Contribution marginFixed costsTotal fixed costsSalesNet incomeVariable costsTotal variable costs | ||||
| Variable costs of goods available for saleVariable selling and administrative expensesFixed manufacturing overheadNet incomeVariable cost of goods soldVariable costs of goods manufacturedFixed selling and administrative expenses | ||||
| Variable selling and administrative expensesVariable costs of goods available for saleVariable cost of goods soldNet incomeFixed selling and administrative expensesVariable costs of goods manufacturedFixed manufacturing overhead | ||||
| Fixed costsTotal variable costsTotal fixed costsSalesVariable costsNet incomeContribution margin | ||||
| Net incomeContribution marginTotal variable costsTotal fixed costsSalesVariable costsFixed costs | $ | |||
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Principles Of Managerial Finance
Authors: Lawrence J. Gitman, Chad J. Zutter
14th Global Edition
9781292018201
