Virgil produces jet bridges for many domestic and international airports. Cost information for Virgil's jet bridges...

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Virgil produces jet bridges for many domestic and international airports. Cost information for Virgil's jet bridges is as follows: Variable costs per jet bridge: Materials $ 5,500 Labor $ 2,900 Manufacturing Overhead $ 5,800 Selling $ 800 General and administrative $ 1,000 Fixed costs for the first 3 quarters of 2020: Manufacturing Overhead $ 924,600 allocated based on budgeted production Selling $ 450,000 General and administrative $ 735,000 Additional information for the first three quarters of 2020 for Virgil are shown below: Budgeted production Actual production Sales 1st Quarter 2nd Quarter 3rd Quarter LOLON 65 880 69 65 69 62 62 58 844 67 67 Sales price: $34,000 per jet bridge Fixed selling costs by quarter 160,000 160,000 130,000 Fixed G&A costs by quarter 335,000 200,000 200,000 Virgil's controller, Nate, wishes to analyze the difference in the income statements between throughput costing, absorption costing, and variable costing for the first 3 quarters of 2020. Assume no beginning inventory. Read the requirements. Requirement 3. Prepare a throughput costing income statement. (Complete all input fields. Enter a 0 for any zero balance accounts. Use a minus sign or parentheses for a net loss.) Throughput Costing: Revenues Direct materials cost of goods sold: Quarter 1 Quarter 2 Quarter 3 2,108,000 2,108,000 1,972,000 Beginning inventory Direct materials 16500 55000 357500 379500 368500 Cost of goods available for sale Deduct ending inventory 375700 396000 423500 16500 55000 104500 Direct materials cost of goods sold 359200 341000 319000 Throughput margin Manufacturing costs (other than DM) 1748800 1767000 1653000 Total SG&A costs Net income (loss) Virgil produces jet bridges for many domestic and international airports. Cost information for Virgil's jet bridges is as follows: Variable costs per jet bridge: Materials $ 5,500 Labor $ 2,900 Manufacturing Overhead $ 5,800 Selling $ 800 General and administrative $ 1,000 Fixed costs for the first 3 quarters of 2020: Manufacturing Overhead $ 924,600 allocated based on budgeted production Selling $ 450,000 General and administrative $ 735,000 Additional information for the first three quarters of 2020 for Virgil are shown below: Budgeted production Actual production Sales 1st Quarter 2nd Quarter 3rd Quarter LOLON 65 880 69 65 69 62 62 58 844 67 67 Sales price: $34,000 per jet bridge Fixed selling costs by quarter 160,000 160,000 130,000 Fixed G&A costs by quarter 335,000 200,000 200,000 Virgil's controller, Nate, wishes to analyze the difference in the income statements between throughput costing, absorption costing, and variable costing for the first 3 quarters of 2020. Assume no beginning inventory. Read the requirements. Requirement 3. Prepare a throughput costing income statement. (Complete all input fields. Enter a 0 for any zero balance accounts. Use a minus sign or parentheses for a net loss.) Throughput Costing: Revenues Direct materials cost of goods sold: Quarter 1 Quarter 2 Quarter 3 2,108,000 2,108,000 1,972,000 Beginning inventory Direct materials 16500 55000 357500 379500 368500 Cost of goods available for sale Deduct ending inventory 375700 396000 423500 16500 55000 104500 Direct materials cost of goods sold 359200 341000 319000 Throughput margin Manufacturing costs (other than DM) 1748800 1767000 1653000 Total SG&A costs Net income (loss)