Exercise $10-43($Algo$)$ Resources Used versus Resources Supplied $($LO $10-5,6)$

Byron Truck Repair uses a specialized hydraulic lift to work on trucks and busses. Data on the lift and its usage follow:

Cost Driver Rate Cost Driver Volume

Resources used

Operation $ $5\mathrm{.}00$ per lift$-$hour $3,260$ lift$-$hours

Maintenance $ $8\mathrm{.}00$ per job $544$ jobs

Resources supplied

Operation $ $20,000$

Maintenance $ $10,700$

Sales revenue from truck repair totaled $$48,000.$

Required:

Prepare a traditional income statement.

Prepare an activity$-$based income statement.