able Costing Assignment

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Sims Company began operations on January $1.$ Its cost and sales information for this year follow.

$\backslash$table$[[$Direct materials,$$30$ per unit$],[$Direct labor,$$50$ per unit$],[$Variable overhead,$$40$ per unit$],[$Fixed overhead,$$6,000,000$ per year$],[$Variable selling and administrative expenses,$$11$ per unit$],[$Fixed selling and administrative expenses,$$4,000,000$ per year$],[$Units produced,$100,000$ units$],[$Units sold,$70,000$ units$],[$Sales price,$$350$ per unit$]]$

Prepare an income statement for the year using variable costing.

Prepare an income statement for the year using absorption costing.

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Prepare an income statement for the year using variable costing.

$\backslash$table$[[$SIMS COMPANY,$],[$Income Statement $($Variable Costing$)],[$Sales$,,,$$$,],[$Less: Variable expenses,,,,$],[$Direct materials,$,,,],[$Direct labor,$,,,]]$

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Homework: Variable Costing Assignment

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Variable Costing Assignment

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Required $1$

Required $2$

Prepare an income statement for the year using variable costing.

$\backslash$table$[[$SIMS COMPANY$],[$Income Statement $($Variable Costing$)],[$Sales$,,{?}_{252,000,000}^{\text{\$}}ox$