pr.20-01b.a

HW 7 Absorption and Variable Costing Income Statements During the first month of operations ended July 31, YoSan Inc. manufactured 9,900 flat panel televisions, of which 9,200 were sold. Operating data for the month are summarized as follows: Sales $1,150,000 Manufacturing costs: Direct materials $584,100 Direct labor 178,200 Variable manufacturing cost 148,500 Fixed manufacturing cost 79,200 990,000 Selling and administrative expenses: Variable $92,000 Fixed 42,300 134,300 Required: > 1. Prepare an income statement based on the absorption costing concept. YoSan Inc. Absorption Costing Income Statement For the Month Ended July 31 Cost of goods sold: Check My Work 2 more Check My Work uses remaining Previous HW7 1. Prepare an income statement based on the absorption costing concept. YoSan Inc. Absorption Costing Income Statement For the Month Ended July 31 Cost of goods sold: 2. Prepare an income statement based on the variable costing concept. YoSan Inc. Variable Costing Income Statement For the Month Ended July 31 Variable cost of goods sold: Previous Check My Work 2 more Check My Work uses remaining HW 7 2. Prepare an income statement based on the variable costing concept. YoSan Inc. Variable Costing Income Statement For the Month Ended July 31 Variable cost of goods sold: > Fixed costs: 3. Explain the reason for the difference in the amount of income from operations reported in (1) and Fixed costs: 3. Explain the reason for the difference in the amount of income from operations reported in (1) and (2) The income from operations reported under costing exceeds the income from operations reported under costing by the difference between the two, due to manufacturing costs that are deferred to a future month under costing. Check My Work 2 more Check My Work uses remaining. Previous