During the most recent year, the Osterman Company had the following data: Units in beginning inventory
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Question:
During the most recent year, the Osterman Company had the following data:
Units in beginning inventory | — |
Units produced | 10,000 |
Units Sold ($47 per unit) | 9,300 |
Variable costs per unit: | |
Direct materials | $9 |
Direct labour | $6 |
Variable Overhead | $4 |
Fixed costs: | |
Fixed overhead costs per unit produced | $5 |
Fixed and administrative sales | $138,000 |
Required:
1. Calculate the cost of goods sold based on variable cost.
2. Prepare an income statement using variable costs. Enter amounts as positive numbers.
Related Book For
Managerial Accounting The Cornerstone Of Business Decision Making
ISBN: 9780357715345
8th Edition
Authors: Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
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