G OPERATING DATA FOR 20X1 Quantities: Beginning inventories, finished goods Units produced during the year Units sold during the year Costs: H Direct materials ($26 per unit) Direct labor ($24 per unit) Variable factory overhead ($10 per unit) Fixed factory overhead Variable selling and administrative expenses ($7 per unit) INSTRUCTIONS 1. Prepare an income statement for 20X1 using direct costing. Pitt Corporation began operations in 20X1 to manufacture a single product. Relevant data for the year follow. There are no work-in-process inventories. Fixed selling and administrative expenses Selling price for each unit J -0- 5,000 4,800 $130,000 120,000 50,000 125,000 33,600 75,000 K 125 M N O P

OPERATING DVTA FOR 20x] Quantitice Costr: Datec materials (526 per unit) Direct laber (524 per unit) Venable factory overbead (Bio per unit) Fund factory overhead Verible seiling and adeninintrative expeoict (177 per unit) Fived selling asd adminiutrative apeniea Sellites peice for each anit. $130,000 120,000 50,000 125,000 33,600 75,000 123 INSTRUCTIONS