Revive Me Sports Drink produced 9,600 cases of powdered drink mix and sold 15,100 cases in...
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Revive Me Sports Drink produced 9,600 cases of powdered drink mix and sold 15,100 cases in July. The sales prices was $32.00, variable costs were $14.00 per case, comprising $10.00 for manufacturing costs and $4.00 for selling and administrative expenses. Total fixed costs were $69,600, which were made up of manufacturing costs of $45,400 and selling and administrative cost of $24,200. The company had no beginning Finished Goods Inventory. 1. Prepare the July income statement using absorption costing. Revive Me Sports Drink Income Statement For Month Ending July 31, 20XX Cost of Goods Sold Selling and Administrative Costs: 2. Prepare the July income statement using variable costing. Revive Me Sports Drink Contribution Margin Income Statement For Month Ending July 31, 20XX Variable Costs: Fixed Costs: Revive Me Sports Drink produced 9,600 cases of powdered drink mix and sold 15,100 cases in July. The sales prices was $32.00, variable costs were $14.00 per case, comprising $10.00 for manufacturing costs and $4.00 for selling and administrative expenses. Total fixed costs were $69,600, which were made up of manufacturing costs of $45,400 and selling and administrative cost of $24,200. The company had no beginning Finished Goods Inventory. 1. Prepare the July income statement using absorption costing. Revive Me Sports Drink Income Statement For Month Ending July 31, 20XX Cost of Goods Sold Selling and Administrative Costs: 2. Prepare the July income statement using variable costing. Revive Me Sports Drink Contribution Margin Income Statement For Month Ending July 31, 20XX Variable Costs: Fixed Costs:
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To prepare the July income statement using absorption costing and variable costing for Revive Me Sports Drink we need to calculate various costs and t... View the full answer
Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133866292
5th edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
Posted Date:
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