Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

URGENT HELP. I believe in the second picture what I highlighted in pink is incorrect so please double check On November 30, the end of

URGENT HELP. I believe in the second picture what I highlighted in pink is incorrect so please double check
image text in transcribed
image text in transcribed
On November 30, the end of the first month of operations, Weatherford Company prepared the following income statement, based on the absorption coating concept Weatherford Company Absorption Costing Income Statement For the Month Ended November 30 Sales (4,100 units) $86,100 Cost of goods sold: Cost of goods manufactured (4,800 units) $72,000 Inventory, November 30 (700 units) (10,500) Total cost of goods sold 61,500 Gross profit $24,600 Selling and administrative expenses 14,430 Income from operations $10,170 Assume the wed manufacturing costs were $16.560 and the feed selling and administrative expenses were $7,070 Prepare an income statement according to the variable costing concept. Round all al answers to whole dollars. Weatherford Company Variable Costing Income Statement For the Month Ended November 30 Variable cost of goods sold: Variable cost of goods manufactured In November Totalwariables... Manufacturing marrin Variables and ministratie bi Join Plepale all Culle Slalencil durung LUMC Vollauie CUSLY CHCep. NUUIU Dillal als Weatherford Company Variable Costing Income Statement For the Month Ended November 30 > Sales $ Variable cost of goods sold: Variable cost of goods manufactured Inventory, November 30 Total variable cost of goods sold Manufacturing margin L) Variable selling and administrative expenses Contribution margin Fixed costs: Fixed manufacturing costs Fixed selling and administrative expenses Total fixed costs DO Income from operations

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac

14th edition

1337270598, 978-1337270595

More Books

Students also viewed these Accounting questions