The following data are from the accounting records of Niles Castings for year 2 Units produced and sold Total revenues and costs Sales revenue Direct naterials costs Direct labor costs Variable manufacturing overhead Fixed manufacturing overhead Variable marketing and adninistrative costs Fixed narketing and administrative costs 87,000 $250,000 63,000 38,000 20,000 45,000 12,500 33,000 Required: a. Prepare a gross margin income statement b. Prepare a contribution margin income statement.
The following data are from the accounting records of Niles Castings for year 2 Units produced and sold Total revenues and costs Sales revenue Direct naterials costs Direct labor costs Variable manufacturing overhead Fixed manufacturing overhead Variable marketing and adninistrative costs Fixed narketing and administrative costs 87,000 $250,000 63,000 38,000 20,000 45,000 12,500 33,000 Required: a. Prepare a gross margin income statement b. Prepare a contribution margin income statement.
Chapter5: Process Costing
Section: Chapter Questions
Problem 2PB: The following product costs are available for Kellee Company on the production of eyeglass frames:...
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