Question

Use the following information for Short Exercises S21-4 and S21-5.

Dracut Company reports the following information for June:

Calculating gross profit and operating income, absorption costing

Calculate the gross profit and operating income for June using absorption costing.

Net Sales Revenue
Variable Cost of Goods Sold
Fixed Cost of Goods Sold
Variable Selling and Administrative Costs
Fixed Selling and Administrative Costs
$ 755,000
240,000
198,000
168,000
79,000
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Marginal Costing

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Transcribed Image Text

Net Sales Revenue Variable Cost of Goods Sold Fixed Cost of Goods Sold Variable Selling and Administrative Costs Fixed Selling and Administrative Costs $ 755,000 240,000 198,000 168,000 79,000