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Sims Company began operations on January 1. Its cost and sales information for this year follow. $ 40 per unit $ 60 per unit $40 per unit $ 6,300,000 per year $ 11 per unit $ 4,250,000 per year 105,000 units 75,000 units $360 per unit. Direct materials Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses Units produced Units sold Sales price 1. Prepare an income statement for the year using variable costing. 2. Prepare an income statement for the year using absorption costing. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare an income statement for the year using variable costing. Income SIMS COMPANY Income Statement (Variable Costing) Required 1 Required 2 >

Sims Company began operations on January 1. Its cost and sales information for this year follow. $ 40 per unit $ 60 per unit $40 per unit $ 6,300,000 per year $ 11 per unit $ 4,250,000 per year 105,000 units 75,000 units $360 per unit. Direct materials Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses Units produced Units sold Sales price 1. Prepare an income statement for the year using variable costing. 2. Prepare an income statement for the year using absorption costing. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare an income statement for the year using variable costing. Income SIMS COMPANY Income Statement (Variable Costing) Required 1 Required 2 >

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter18: Pricing And Profitability Analysis
Section: Chapter Questions
Problem 29P: Jellison Company had the following operating data for its first two years of operations: Jellison...
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Sims Company began operations on January 1. Its cost and sales information for this year follow. $ 40 per unit $ 60 per unit $ 40 per unit Direct materials Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses Units produced Units sold Sales price 1. Prepare an income statement for the year using variable costing. 2. Prepare an income statement for the year using absorption costing. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare an income statement for the year using variable costing. Income $ 6,300,000 per year $ 11 per unit $ 4,250,000 per year 105,000 units 75,000 units $360 per unit SIMS COMPANY Income Statement (Variable Costing) < Required 1 Required 2 >
Transcribed Image Text:Sims Company began operations on January 1. Its cost and sales information for this year follow. $ 40 per unit $ 60 per unit $ 40 per unit Direct materials Direct labor Variable overhead Fixed overhead Variable selling and administrative expenses Fixed selling and administrative expenses Units produced Units sold Sales price 1. Prepare an income statement for the year using variable costing. 2. Prepare an income statement for the year using absorption costing. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare an income statement for the year using variable costing. Income $ 6,300,000 per year $ 11 per unit $ 4,250,000 per year 105,000 units 75,000 units $360 per unit SIMS COMPANY Income Statement (Variable Costing) < Required 1 Required 2 >
Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare an income statement for the year using absorption costing. SIMS COMPANY Income Statement (Absorption Costing) < Required 1 Required 2 >
Transcribed Image Text:Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare an income statement for the year using absorption costing. SIMS COMPANY Income Statement (Absorption Costing) < Required 1 Required 2 >
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