Question: I need help please Calculator Absorption and Variable Costing Income Statements During the first month of operations ended July 31, YoSan Inc. manufactured 8,900 flat

I need help please

I need help please Calculator Absorption and Variable Costing Income Statements During

Calculator Absorption and Variable Costing Income Statements During the first month of operations ended July 31, YoSan Inc. manufactured 8,900 flat panel televisions, of which 8,200 were sold. Operating data for the month are summarized follows: Sales $1,230,000 Manufacturing costs: Direct materials $631,900 Direct labor 186,900 Variable manufacturing cost 160,200 Fixed manufacturing cost 80,100 1,059,100 Selling and administrative expenses: Variable $98,400 Fixed 45,300 143,700 Required: 1. Prepare an income statement based on the absorption costing concept. YoSan Inc. Absorption Costing Income Statement For the Month Ended July 31 Sales 1,230,000 Cost of goods sold: Cost of goods manufactured 110 Inventory, July 31 Total cost of goods sold Gross profit

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!