Question
Variable-Costing Income Statement During the most recent year, Osterman Company had the following data: Units in beginning inventory Units produced 10,000 Units sold ($47 per
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Variable-Costing Income Statement
During the most recent year, Osterman Company had the following data:
Units in beginning inventory Units produced 10,000 Units sold ($47 per unit) 9,300 Variable costs per unit: Direct materials $9 Direct labor $6 Variable overhead $4 Fixed costs: Fixed overhead per unit produced $5 Fixed selling and administrative $138,000
Required: 1. Calculate the cost of goods sold under variable costing.
$ 2. Prepare an income statement using variable costing. Enter amounts as positive numbers.
Osterman Company Income Statement under Variable Costing For the Most Recent Year $ $ $ $
Variable-Costing Income Statement
During the most recent year, Osterman Company had the following data:
| Units in beginning inventory | |
| Units produced | 10,000 |
| Units sold ($47 per unit) | 9,300 |
| Variable costs per unit: | |
| Direct materials | $9 |
| Direct labor | $6 |
| Variable overhead | $4 |
| Fixed costs: | |
| Fixed overhead per unit produced | $5 |
| Fixed selling and administrative | $138,000 |
1. Calculate the cost of goods sold under variable costing.
$2. Prepare an income statement using variable costing. Enter amounts as positive numbers.
| Osterman Company | ||
| Income Statement under Variable Costing | ||
| For the Most Recent Year | ||
| $ | ||
| $ | ||
| $ | ||
| $ | ||
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
