Question: Hi I need help with this question please? how do I make an income statement? 1. EX.22. 191.ALGO Instructions Income Statement 2. EX.23. 166.BLANKSHEET.A... Instructions
Hi I need help with this question please?
how do I make an income statement?


1. EX.22. 191.ALGO Instructions Income Statement 2. EX.23. 166.BLANKSHEET.A... Instructions 3. EX.24.202.ALGO Baxter Company sold 9,000 units at $135 per unit. Normal production is 9,400 units. K.25.153.ALGO Standard: 5 yards per unit at $6.30 per yard Actual yards used: 45,760 yards at 5. EX.26.173.ALGO $6.25 per yard Standard: 2.00 hours per unit at $17.00 Actual hours worked: 17,750 hours at 6. EX.27.120.ALGO $16.90 per hour 7. MC.28.66 Standard: variable overhead at $1.05 per unit Standard: fixed overhead $211,500 (budgeted Actual total factory overhead: and actual amount) $236,000 Required: Prepare an income statement that includes variances for the year ending December 31 through gross profit for Baxter Company using the above information. Do not round fixed overhead rate calculation when determining fixed factory overhead volume variance. Enter amounts as positive numbers unless the amount is a calculation that results in a negative amount. For example: Net loss should be negative. Expenses should be positive.Instructions Income Statement Income Statement Prepare an income statement that includes variances for the year ending December 31 through gross p above information. Do not round fixed overhead rate calculation when determining fixed factory overhead positive numbers unless the amount is a calculation that results in a negative amount. For example: Net should be positive. Baxter Company Income Statement Through Gross Profit For the Year Ending December 31 1 Sales 2 Cost of goods sold-at standard 3 Gross profit-at standard Unfavorable Less variances from standard cost: Direct materials price 7 Direct materials quantity 8 Direct labor rate 9 Direct labor time 10 Factory overhead controllable 11 Factory overhead volume 12 Net variance from standard cost-unfavorable 13 Gross profit-actual
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