Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

what is the fixed overhead costs? $ 2,576,000 Absorption Costing Income Statement Sales F Less: Cost of goods sold Variable manufacturing costs $ 1,269,600 Fixed

what is the fixed overhead costs? image text in transcribed
image text in transcribed
$ 2,576,000 Absorption Costing Income Statement Sales F Less: Cost of goods sold Variable manufacturing costs $ 1,269,600 Fixed overhead costs 273,600 1,543,200 Cost of goods sold Gross margin Selling general and administrative expenses Fixed selling and administrative costs Variable selling and administrative expenses 136,800 211,600 Total fixed expenses Net income (loss) Required 2 > Diaz Company reports the following variable costing Income statement for its single product. This company's sales totaled 46,000 units, but its production was 76,000 units. It had no beginning finished goods Inventory for the current period. $2,576,000 DIAZ COMPANY Income Statement (Variable Coating) Sales (46,000 units * $56.00 per unit) Variable expenses Variable manufacturing expense (46,000 units X $27.60 per unit) Variable selling and admin. expense (46,000 units X 94.60 per unit) Total variable expenses Contribution margin Fixed expenses Tixed overhead Fixed selling and administrative expense Total fixed expenses Net income 1.269.600 211.600 1.401,200 1.094.000 273,600 136.800 410,400 684,400 $ $ 2,576,000 Absorption Costing Income Statement Sales F Less: Cost of goods sold Variable manufacturing costs $ 1,269,600 Fixed overhead costs 273,600 1,543,200 Cost of goods sold Gross margin Selling general and administrative expenses Fixed selling and administrative costs Variable selling and administrative expenses 136,800 211,600 Total fixed expenses Net income (loss) Required 2 > Diaz Company reports the following variable costing Income statement for its single product. This company's sales totaled 46,000 units, but its production was 76,000 units. It had no beginning finished goods Inventory for the current period. $2,576,000 DIAZ COMPANY Income Statement (Variable Coating) Sales (46,000 units * $56.00 per unit) Variable expenses Variable manufacturing expense (46,000 units X $27.60 per unit) Variable selling and admin. expense (46,000 units X 94.60 per unit) Total variable expenses Contribution margin Fixed expenses Tixed overhead Fixed selling and administrative expense Total fixed expenses Net income 1.269.600 211.600 1.401,200 1.094.000 273,600 136.800 410,400 684,400 $

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

Sound Investing, Chapter 5 - Cost Allocation

Authors: Kate Mooney

8th Edition

007171927X, 9780071719278

More Books

Students also viewed these Accounting questions