The following data are from the accounting records of Niles Castings for year 2. Units produced...
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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 materials costs Direct labor costs Variable manufacturing overhead Fixed manufacturing overhead Variable marketing and administrative costs Fixed marketing and administrative costs Required: a. Prepare a gross margin income statement. b. Prepare a contribution margin income statement. 90,000 $330,000 62,000 38,000 20,000 47,000 13,500 31,000 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 materials costs Direct labor costs Variable manufacturing overhead Fixed manufacturing overhead Variable marketing and administrative costs Fixed marketing and administrative costs Required: a. Prepare a gross margin income statement. b. Prepare a contribution margin income statement. 90,000 $330,000 62,000 38,000 20,000 47,000 13,500 31,000
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a Gross Margin Income Statement Particulars Amount Sales Revenue 330000 Cost of goods s... View the full answer
Related Book For
Fundamentals of Cost Accounting
ISBN: 978-1259565403
5th edition
Authors: William Lanen, Shannon Anderson, Michael Maher
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