Requirement 1. Prepare income statements for Salem Screen in January, February, and March 2017 under throughput costing. Begin by completing the top portion of the statement, then the bottom portion (Enter a "O" for any zero balance accounts.) January 2017 February 2017 March 2017 Revenues $ 2,090,000 $2,310,000 $ 2,596,000 Direct material cost of goods sold: Beginning inventory $ 78,750 $ 78,750 Direct materials in goods manufactured 577.500 551,250 598,500 Cost of goods available for sale 577,500 630,000 677.250 Deduct ending inventory (78,750) (78,750) (57.750) Total direct material cost of goods sold 498,750 551.250 619.500 Throughput margin 1,591,250 1,758,750 1,976,500 Manufacturing costs 907,500 886 250 924,500 Other operating costs 638,750 691,250 759,500 $ 45,000 Operating income $ 181,250 $ 292.500 Crystal Clear Corporation manufactures and sala 50 inch television sets and uses standard costing. Actual data relating to Juary February, and March 2017 are as follows Click to conto the actual data) The ting priceperunt is $2,700. The budgeted level of production used to calculate the budotted fed manufacturing cost per unit 1.100 units. There are no podeny. or spending vanances. Any productionvokumevance is well to cost of goods sold in the month in which tocour The variable manufacturing costs per unit of Crystal Clear Corporation are as follows: Click the icon to vow the variable manufacturing cost data) Crystal Clear prepared the following income statement under variableng and absorption con Click to view the varicosting) Olick the icon to the otion costing sement) Data Table Data Table January February March Descicost per un Die man during labor cost per unit Manasturing ved cost per un January February March 5 350 $ 550 50 50 50 300 300 300 Unitat Beginning inventory Production 0 1.100 1000 100 OTS 1,075 100 1.150 1.155 $ OS 500 5 Variable costs Manufacturing cost per produced Operating ang cost penisolat Prim Done 5 5 900 5 6755 9005 6755 300 675 Manufacturing Operating in costs 1440,000 1410.000 3 1 150.000 $ 150.000 140.000 1:50.000 Prime Done - Variable costing income statement March 2017 January 2017 $ 2,700,000 February 2017 $ 2,902,500 $ 3,118,500 Revenues $ 90,000 967,500 $ 90,000 1,035,000 990,000 990,000 (90,000) 1,057,500 (90,000) 1.125,000 (85,500) 1,039,500 Variable costs: Beginning inventory Variable manufacturing costs Cost of goods available for sale Less: Ending inventory Variable cost of goods sold Variable operating costs Total variable costs Contribution margin Fixed costs: Fixed manufacturing costs Fixed operating costs 900,000 675,000 967,500 725,625 779,625 1,575,000 1,693,125 1,819,125 1,125,000 1,209,375 1.299.375 440,000 150,000 440,000 150,000 440,000 150,000 590,000 Total fixed costs 590,000 590.000 $ 535.000 $ 619.375 $ 709,375 Operating income Print Done Absorption costing income statement March 2017 January 2017 $ 2,700,000 February 2017 $ 2,902,500 $ 3,118,500 0 $ 130.000 $ 130,000 990,000 440,000 967,500 430,000 1.035,000 460,000 1,430,000 (130,000) 0 1,527,500 (130,000) Revenues Cost of goods sold: Beginning inventory Variable manufacturing costs Allocated fixed manufacturing costs Cost of goods available for sale Less: Ending inventory Adj. for production-volume variance Cost of goods sold Gross margin Operating costs: Variable operating costs Fixed operating costs Total operating costs 1,625,000 (123,500) 10,000 (20.000) F 1,300,000 1.407,500 1.481.500 1.400,000 1,495,000 1,637,000 675,000 150.000 725,625 150,000 779,625 150,000 825,000 875,625 929,625 $ 575.000 $ 619,375 $ 707,375 Operating income Print Dono