On the basis of the data at the top of the following page, the general manager of
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Glide Shoes Inc. Product-Line Income Statement For the Year Ended August 31, 2012 Children's Shoes Men's Shoes Women's Shoes Total $200,000 $500,000 Sales $1,000,000 $300,000 Costs of goods sold: $ 495,000 230,000 $ 725,000 $ 275,000 Variable costs $125,000 $150,000 $220,000 Fixed costs 50,000 $175,000 $ 25,000 60,000 $210,000 $ 90,000 120,000 $340,000 $160,000 Total cost of goods sold Gross profit Selling and adminstrative expenses: $ 28,000 $ 45,000 $ 95,000 $ 168,000 67,000 $ 235,000 $ 40,000 Variable selling and admin. expenses Fixed selling and admin. expenses 22,000 20,000 25,000 $ 50,000 $ 65,000 $ 25,000 Total selling and admin. expenses Income (loss) from operations $120,000 $ 40,000 $ (25,000)
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Related Book For
Financial and Managerial Accounting Using Excel for Success
ISBN: 978-1111993979
1st edition
Authors: James Reeve, Carl S. Warren, Jonathan Duchac
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