Prepare an income statement in good form for the coming year Income Statement Learning Objective 5 Bob's

Prepare an income statement in good form for the coming year

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Income Statement Learning Objective 5 Bob's Bistro produces party-sized hoagie sandwiches. For next year, Bob's Bistro predicts that 51,800 units will be produced with the following total costs: Direct materials Direct labor Variable overhead Fixed overhead ? $72,000 26,000 180,000 Next year, Bob's Bistro expects to purchase $129,500 of direct materials. Projected beginning and ending inventories for direct materials and work in process are as follows: Beginning Direct materials Inventory $4,000 Work-in-Process Inventory $11,200 Ending $3,900 $13,200 ? C Next year, Bob's Bistro expects to produce 51,800 units and sell 51,100 units at a price of $16.00 each. Beginning inventory of finished goods is $44,500, and ending inventory of finished goods is expected to be $36,000. Total selling expense is projected at $27,500, and total administrative expense is projected at $130,000. Required: Income Statement Learning Objective 5 Bob's Bistro produces party-sized hoagie sandwiches. For next year, Bob's Bistro predicts that 51,800 units will be produced with the following total costs: Direct materials Direct labor Variable overhead Fixed overhead ? $72,000 26,000 180,000 Next year, Bob's Bistro expects to purchase $129,500 of direct materials. Projected beginning and ending inventories for direct materials and work in process are as follows: Beginning Direct materials Inventory $4,000 Work-in-Process Inventory $11,200 Ending $3,900 $13,200 ? C Next year, Bob's Bistro expects to produce 51,800 units and sell 51,100 units at a price of $16.00 each. Beginning inventory of finished goods is $44,500, and ending inventory of finished goods is expected to be $36,000. Total selling expense is projected at $27,500, and total administrative expense is projected at $130,000. Required:

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Andwer To prepare the income statement for Bobs Bistro we need to calculate the cost of goods sold a... View the full answer