Calculate the gross profit and operating income for June using absorption costing.
Use the following information for Short Exercises
Dracut Company reports the following information for June:
Net Sales Revenue ............................................. $ 755,000
Variable Cost of Goods Sold ................................... 240,000
Fixed Cost of Goods Sold ...................................... 198,000
Variable Selling and Administrative Costs ................... 168,000
Fixed Selling and Administrative Costs ........................ 79,000