YC SSS x Cal Sta X Portal( X _> Syllabi x [ Downl x| Mail - x 4 My Ho X Cenga X Cenga X C Absorp X | Cheg X + V X C D A v2.cengagenow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false To FA SIM CHAPTER 21 7 eBook Show Me How ? 1. EX.21.01.ALGO Absorption and Variable Costing Income Statements During the first month of operations ended July 31, YoSan Inc. manufactured 8,600 flat panel televisions, of which 7,900 were sold. Operating data for 2. EX.21.02.ALGO the month are summarized as follows: 3. EX.21.02.BLANKSHEET.AL... Sales $1,027,000 Manufacturing costs: 4. EX.21.04.ALGO Direct materials $524,600 Direct labor 154,800 5. EX.21.05.ALGO Variable manufacturing cost 137,600 Fixed manufacturing cost 58,800 885,800 6. EX.21.06.ALGO Selling and administrative expenses: Variable $79,000 7. EX.21.11.ALGO Fixed 36,300 115,300 Required: 8. EX.21.12.ALGO 1. Prepare an income statement based on the absorption costing concept. 9. EX.21.13.ALGO YoSan Inc. Absorption Costing Income Statement 10. EX.21.16.ALGO For the Month Ended July 31 Sales 1,027,000 11. PR.21.01B.ALGO Cost of goods sold: Cost of goods manufactured 885,800 Inventory, July 31 Total cost of goods sold Check My Work 3 more Check My Work uses remaining. Previous Progress: 11/11 items 9:07 PM Type here to search O 74F Clear ~ 98 10/4/2022YC SSS x Cal Sta X Portal( X _> Syllabi x [ Downl x| Mail - x 4 My Ho X Cenga X Cenga X C Absorp X | Cheg X + V X C D A v2.cengagenow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false To FA SIM CHAPTER 21 7 eBook Show Me How Gross profit ? 1. EX.21.01.ALGO Selling and administrative expenses 2. EX.21.02.ALGO Operating income 3. EX.21.02.BLANKSHEET.AL... 2. Prepare an income statement based on the variable costing concept. 4. EX.21.04.ALGO YoSan Inc. Variable Costing Income Statement 5. EX.21.05.ALGO For the Month Ended July 31 Sales 6. EX.21.06.ALGO Variable cost of goods sold: 7. EX.21.11.ALGO Cost of goods manufactured Inventory, July 31 8. EX.21.12.ALGO Total variable cost of goods sold 9. EX.21.13.ALGO Manufacturing margin 10. EX.21.16.ALGO Variable selling and administrative expenses Contribution margin 11. PR.21.01B.ALGO Fixed costs: Fixed manufacturing costs Fixed selling and administrative expenses Total fixed costs Progress: 11/11 items Check My Work 3 more Check My Work uses remaining. Previous Type here to search O 9:07 PM 74F Clear ~ 98 10/4/2022YC SSS x Cal Sta X Portal( X <_> Syllabi x [ Downl x| Mail - X 4 My Ho X Cenga X Cenga X C Absorp X | Cheg X + V X C D A v2.cengagenow.com/ilm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false To FA SIM CHAPTER 21 eBook Show Me How YoSan Inc. ? 1. EX.21.01.ALGO Variable Costing Income Statement For the Month Ended July 31 2. EX.21.02.ALGO Sales Variable cost of goods sold: 3. EX.21.02.BLANKSHEET.AL... Cost of goods manufactured 4. EX.21.04.ALGO Inventory, July 31 E Total variable cost of goods sold 5. EX.21.05.ALGO Manufacturing margin 6. EX.21.06.ALGO Variable selling and administrative expenses Contribution margin 7. EX.21.11.ALGO Fixed costs: 8. EX.21.12.ALGO Fixed manufacturing costs Fixed selling and administrative expenses 9. EX.21.13.ALGO Total fixed costs 10. EX.21.16.ALGO Operating income 11. PR.21.01B.ALGO 3. Explain the reason for the difference in the amount of operating income reported in (1) and (2). The operating income reported under absorption costing exceeds the operating income reported under absorption costing, due to fixed manufacturing costs that are deferred to a future month under absorption costing. Progress: 11/11 items Check My Work 3 more Check My Work uses remaining.