Absorption Costing Income Statement On June 30, the end of the first month of operations, Tudor Manufacturing Co. prepared the following income statement, based on the variable costing concept: Sales (420,000 units) Variable cost of goods sold: Variable cost of goods manufactured (500,000 units x 514 per unit) Less ending inventory (80,000 units x $14 per unit) Variable cost of goods sold Manufacturing margin Variable selling and administrative expenses Contribution margin Fixed costs: Fixed manufacturing costs Fixed selling and admini $7,000,000 1,120,000 $160,000 75.000 $7,450,000 5,680,000 $1,570,000 80,000 $1,490,000 235.000
Absorption Costing Income Statement On June 30, the end of the first month of operations, Tudor Manufacturing Co. prepared the following income statement, based on the variable costing concept: Sales (420,000 units) Variable cost of goods sold: Variable cost of goods manufactured (500,000 units x 514 per unit) Less ending inventory (80,000 units x $14 per unit) Variable cost of goods sold Manufacturing margin Variable selling and administrative expenses Contribution margin Fixed costs: Fixed manufacturing costs Fixed selling and admini $7,000,000 1,120,000 $160,000 75.000 $7,450,000 5,680,000 $1,570,000 80,000 $1,490,000 235.000
Accounting
27th Edition
ISBN:9781337272094
Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Chapter21: Cost-volume-profit Analysis
Section: Chapter Questions
Problem 21.28EX: Appendix Absorption costing income statement On June 30, the end of the first month of operations,...
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