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QS 19-3 Variable costing income statement LO P2 Aces Inc., a manufacturer of tennis rackets, began operations this year. The company produced 5,300 rackets and sold 4,200. Each racket was sold at a price of $83. Fixed overhead costs are $65,190, and fixed selling and administrative costs are $64,500. The company also reports the following per unit variable costs for the year. Variable product costs Variable selling and administrative expenses Prepare an income statement under variable costing. Sales Net income (loss) ACES INC. Variable Costing Income Statement $ 24.30 $ 1.30 $ 348,600

QS 19-3 Variable costing income statement LO P2 Aces Inc., a manufacturer of tennis rackets, began operations this year. The company produced 5,300 rackets and sold 4,200. Each racket was sold at a price of $83. Fixed overhead costs are $65,190, and fixed selling and administrative costs are $64,500. The company also reports the following per unit variable costs for the year. Variable product costs Variable selling and administrative expenses Prepare an income statement under variable costing. Sales Net income (loss) ACES INC. Variable Costing Income Statement $ 24.30 $ 1.30 $ 348,600

Accounting (Text Only)
Accounting (Text Only)
26th Edition
ISBN:9781285743615
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter21: Cost Behavior And 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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QS 19-3 Variable costing income statement LO P2 Aces Inc., a manufacturer of tennis rackets, began operations this year. The company produced 5,300 rackets and sold 4,200. Each racket was sold at a price of $83. Fixed overhead costs are $65,190, and fixed selling and administrative costs are $64,500. The company also reports the following per unit variable costs for the year. Variable product costs Variable selling and administrative expenses Prepare an income statement under variable costing. Sales Net income (loss) ACES INC. Variable Costing Income Statement $ 24.30 $ 1.30 $ 348,600
Transcribed Image Text:QS 19-3 Variable costing income statement LO P2 Aces Inc., a manufacturer of tennis rackets, began operations this year. The company produced 5,300 rackets and sold 4,200. Each racket was sold at a price of $83. Fixed overhead costs are $65,190, and fixed selling and administrative costs are $64,500. The company also reports the following per unit variable costs for the year. Variable product costs Variable selling and administrative expenses Prepare an income statement under variable costing. Sales Net income (loss) ACES INC. Variable Costing Income Statement $ 24.30 $ 1.30 $ 348,600
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