Operating revenues Sales $18,900,000 Refunds for goods returned and loss allowances $870,000 Total revenues ?????

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter1: Introduction And Goals Of The Firm
Section: Chapter Questions
Problem 2.2CE
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Complete the following Income Statement and identify the answers to each question:
Operating Revenues and Expenses
Incomes/Losses
Operating revenues
Sales
$18,900,000
Refunds for goods returned and loss allowances
$870,000
Total revenues
?????
Operating expenses
Cost of goods and services sold
Labor
$6,140,000
Materials
$4,640,000
Indirect cost
$2,280,000
Depreciation
$450,000
Total operating expense
?????
Transcribed Image Text:Complete the following Income Statement and identify the answers to each question: Operating Revenues and Expenses Incomes/Losses Operating revenues Sales $18,900,000 Refunds for goods returned and loss allowances $870,000 Total revenues ????? Operating expenses Cost of goods and services sold Labor $6,140,000 Materials $4,640,000 Indirect cost $2,280,000 Depreciation $450,000 Total operating expense ?????
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