Refer to the information for Jasper Company above.
Jasper Company provided the following information for last year:
Sales in units...............300,000
Selling price...................$ 9
Direct materials.............150,000
Direct labor................325,000
Manufacturing overhead..........215,000
Selling expense..............437,000
Administrative expense..........854,000
Required:
Prepare an income statement for Jasper Company for last year. Calculate the percentage of sales for each line item on the income statement.