On June 30, the end of the first month of operations, Clowney Company prepared the following income
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On June 30, the end of the first month of operations, Clowney Company prepared the following income statement, based on the absorption costingconcept:
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Clowney Company Absorption Costing Income Statement For the Month Ended June 30, 2013 Sales (9,600 units). Cost of goods sold: Cost of goods manufactured (11,200 units). Less inventory, June 30 (1,600 units)..... Cost of goods sold... Gross profit... Selling and administrative expenses Income from operations.... $537,600 $448,000 64,000 384,000 $153,600 82,080 S 71,520
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Related Book For
Financial and Managerial Accounting
ISBN: 978-0538480895
11th Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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