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Data table

King Ind$$stries has one product. Information ab $($Click the icon to view the data.$)$

The company had no beginning inventory.

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King Industries

Income Statement$][$Absorption Cos

For the Year Ended

Sales revenue

Less: Cost of goods sold

Gross profit

Less:

Operating expenses

Operating income

$\backslash$table$[[$Selling price per unit,$$,50\mathrm{.}00],[$Direct material per unit.,$$,22\mathrm{.}00],[$Direct labor per unit $.............,$$$,8\mathrm{.}00],[$Total annual manufacturing overhead.........,$$,209,000],[$Fixed portion of annual manufacturing overhead,$$,152,000],[$Variable operating expenses per unit sold,$$,4\mathrm{.}00],[$Fixed operating expenses per year in total.,$$,49,000],[$Units manufactured.,,$19,000],[$Units sold........,,$16,000]]$

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