Requeed: Wermetan Compury Venneman Company produces a product that requires 3.5 standard pounds per unit The standard price is $5.10 per pound. The company produced 14,000 units that required 48,000 pounds, which were purchased at $5,40 per pound The product also requires 4 standard hours per unit at a standard hourly rate of $12 per hour. The 14,000 units required 58,000 hours at an hourly rate of $11.85 per hout. In addison, the standard variable overtead cost per unit is $080 per hour and the actuai variable tactory overhead was $46,100. Fnally, the standard fxed overhead cost per unit is $095 per hour at 55,000 hours, which is 100% of normal capacily. Assume that Vennemah sold 14,000 units at 5165 pet unit Required: Propare an income statement through gross proft for Venneman Company for the month ended March 31 . Refer to the tists of Labeis and Amount Descriptions for the exact wording of woxt entries. Enser all amounts as positive numbers except fivorable variances. Use a minus sign to indicate tavorable variances. A colon ( ) wit ausomaticaly appear for you if it is required Prepare an income stakment through gross proft for Venneman Company for the montr ended March 31 . Refor to the hiser of L abels and Amount Descripoons for the exact wording of wxt enties. Enter all amouns as positwe numbers excopt favorable variances. Use a minus sign to indicato favorable variances. A colon (I mill automascally appoar for you if it is required. Requeed: Wermetan Compury Venneman Company produces a product that requires 3.5 standard pounds per unit The standard price is $5.10 per pound. The company produced 14,000 units that required 48,000 pounds, which were purchased at $5,40 per pound The product also requires 4 standard hours per unit at a standard hourly rate of $12 per hour. The 14,000 units required 58,000 hours at an hourly rate of $11.85 per hout. In addison, the standard variable overtead cost per unit is $080 per hour and the actuai variable tactory overhead was $46,100. Fnally, the standard fxed overhead cost per unit is $095 per hour at 55,000 hours, which is 100% of normal capacily. Assume that Vennemah sold 14,000 units at 5165 pet unit Required: Propare an income statement through gross proft for Venneman Company for the month ended March 31 . Refer to the tists of Labeis and Amount Descriptions for the exact wording of woxt entries. Enser all amounts as positive numbers except fivorable variances. Use a minus sign to indicate tavorable variances. A colon ( ) wit ausomaticaly appear for you if it is required Prepare an income stakment through gross proft for Venneman Company for the montr ended March 31 . Refor to the hiser of L abels and Amount Descripoons for the exact wording of wxt enties. Enter all amouns as positwe numbers excopt favorable variances. Use a minus sign to indicato favorable variances. A colon (I mill automascally appoar for you if it is required
