Q No.# 2 (04 marks) The following data were taken from the records of a company.<\/p>
<\/p>
Period 1Period 2Period 3<\/p>
Production(units)30,0003800027000<\/p>
Sales 30,0002700038000<\/p>
Opening stock11,000<\/p>
Closing stock------11,000-------<\/p>
<\/p>
<\/p>
Per unit cost are as follows:<\/p>
Direct material$ 1.5<\/p>
Direct labor1.0<\/p>
Production overhead3.0<\/p>
Selling price per unit $ 9<\/p>
Administrative overheads are fixed at $25000 and one third of the production overheads are fixed. <\/p>
QUESTION:<\/p>
Prepare separate income statements for all three year <\/p>", "transcribed_text": "", "related_book": { "title": "Income Tax Fundamentals 2013", "isbn": "1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516", "edition": "31st Edition", "authors": "Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/1124.jpg", "uri": "\/textbooks\/income-tax-fundamentals-2013-31st-edition-9781285586618", "see_more_uri": "" }, "free_related_book": { "isbn": "9811375224", "uri": "\/textbooks\/household-energy-consumption-in-china-2016-report-1st-edition-978-9811375224-288049", "name": "Household Energy Consumption In China 2016 Report", "edition": "1st Edition" }, "question_posted": "2024-06-28 07:36:09", "see_more_questions_link": "\/study-help\/questions\/business-marketing-2022-June-08", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/compare-and-contrast-the-assumptions-that-need-to-be-made", "description": "Compare and contrast the assumptions that need to be made to compute a required return using CAPM and the constant growth rate model.", "stars": 3 }, { "url": "\/study-help\/theory-of-probability\/compute-the-renewal-function-when-the-interarrival-distribution-f-is-1982899", "description": "Compute the renewal function when the interarrival distribution F is such that 1 F(t) = pe1t + (1 p)e2t", "stars": 3 }, { "url": "\/mcdonough-copy-center-sells-laser-printers-and-supplies-assume-mcdonough", "description": "McDonough Copy Center sells laser printers and supplies. 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