Variable and Absorption Costing Service Company Dering 2 0 1 6 , 1 0 , 0 0 0 senvice contracts were signed and 9 , 5 0 0 service cantracts were compictod Lawn A x had no service contracts at the beginning af the year Calculate reported income for management Do not use negative sigrs with any answers b Calkulate reported income for the bank Do not use negative signt with any answers Variable and Absorption Costing Service Company Lawn RX , Inc prepares a variable costing income statement for internal management and an absorption costing income statement for its bank Lawn RX provides a quarterly lawn care service that is sold for $ 1 7 5 The variable and fixed cost data are as follows Direct labor $ 1 0 0 0 0 Overhead Variable cost per unit $ 2 3 0 0 Fixed cost $ 1 0 0 , 0 0 0 Marketing, general and administrative Variable cost ( per service contract completed ) $ 2 4 0 0 Administrative expenses ( fixed per month ) $ 4 2 , 0 0 0 During 2 0 1 6 , 1 0 , 0 0 0 service contracts were signed and 9 , 5 0 0 service contracts were completed Lawn RX had no service contracts at the beginning of the year a Calculate reported income for management Do not use negative signs with any answers Absorption Costing Income Statement Sales Answer 0 Cost of Goods Sold Beginning Inventory Answer 0 Variable Costs Answer 0 Fixed Cost Answer 0 Less Ending Inventory Answer 0 Cost of Goods Sold Answer 0 Answer Gross profit Answer 0 Answer Selling expense Answer 0 Administrative expense Answer 0 Net Income Answer 0 b Calculate reported income for the bank Do not use negative signs with any answers Variable Costing Income Statement Sales Answer 0 Cost of Goods Sold Beginning Inventory Answer 0 Variable Costs Answer 0 Answer Less Ending inventory Answer 0 Variable cost of goods sold Answer 0 Answer Variable sellingexpense Answer 0 Answer Contribution margin Answer 0 Fixed costs Answer Overhead cost Answer 0 Administrative Expense Answer 0 Total Fixed Cost Answer 0 Net Income Answer 0

Question

Variable and Absorption Costing   Service Company Dering 2 0 1 6 , 1 0 , 0 0 0 senvice contracts were signed and 9 , 5 0 0 service cantracts were compictod  Lawn A x had no service contracts at the beginning af the year  Calculate reported income for management  Do not use negative sigrs with any answers  b   Calkulate reported income for the bank  Do not use negative signt with any answers Variable and Absorption Costing   Service Company Lawn RX , Inc  prepares a variable costing income statement for internal management and an absorption costing income statement for its bank  Lawn RX provides a quarterly lawn care service that is sold for $ 1 7 5   The variable and fixed cost data are as follows  Direct labor $ 1 0 0   0 0 Overhead Variable cost per unit $ 2 3   0 0 Fixed cost $ 1 0 0 , 0 0 0 Marketing, general and administrative Variable cost ( per service contract completed ) $ 2 4   0 0 Administrative expenses ( fixed   per month ) $ 4 2 , 0 0 0 During 2 0 1 6 , 1 0 , 0 0 0 service contracts were signed and 9 , 5 0 0 service contracts were completed  Lawn RX had no service contracts at the beginning of the year  a   Calculate reported income for management  Do not use negative signs with any answers  Absorption Costing Income Statement Sales Answer 0 Cost of Goods Sold  Beginning Inventory Answer 0 Variable Costs Answer 0 Fixed Cost Answer 0 Less  Ending Inventory Answer 0 Cost of Goods Sold Answer 0 Answer Gross profit Answer 0 Answer Selling expense Answer 0 Administrative expense Answer 0 Net Income Answer 0 b   Calculate reported income for the bank  Do not use negative signs with any answers  Variable Costing Income Statement Sales Answer 0 Cost of Goods Sold  Beginning Inventory Answer 0 Variable Costs Answer 0 Answer Less  Ending inventory Answer 0 Variable cost of goods sold Answer 0 Answer Variable sellingexpense Answer 0 Answer Contribution margin Answer 0 Fixed costs  Answer Overhead cost Answer 0 Administrative Expense Answer 0 Total Fixed Cost Answer 0 Net Income Answer 0

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Variable and Absorption Costing - Service Company Dering 2 0 1 6 , 1 0 , 0 0 0 senvice contracts were signed and 9

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