Homework Help is Here – Start Your Trial Now!
Business
Accounting
On April 30, the end of the first month of operations, Joplin Company prepared the following income statement, based on the absorption costing concept: Joplin Company Absorption Costing Income Statement For the Month Ended April 30 Sales (5,900 units) Cost of goods sold: Cost of goods manufactured (6,700 units) Inventory, April 30 (900 units) Total cost of goods sold Gross profit Selling and administrative expenses Operating income $120,600 (16,200) Sales $153,400 If the fixed manufacturing costs were $28,944 and the fixed selling and administrative expenses were $13,510, prepare an income statement according to the variable costing concept. Round all final answers to whole dollars. Joplin Company Variable Costing Income Statement For the Month Ended April 30 (104,400) $49,000 (27,580) $21,420

On April 30, the end of the first month of operations, Joplin Company prepared the following income statement, based on the absorption costing concept: Joplin Company Absorption Costing Income Statement For the Month Ended April 30 Sales (5,900 units) Cost of goods sold: Cost of goods manufactured (6,700 units) Inventory, April 30 (900 units) Total cost of goods sold Gross profit Selling and administrative expenses Operating income $120,600 (16,200) Sales $153,400 If the fixed manufacturing costs were $28,944 and the fixed selling and administrative expenses were $13,510, prepare an income statement according to the variable costing concept. Round all final answers to whole dollars. Joplin Company Variable Costing Income Statement For the Month Ended April 30 (104,400) $49,000 (27,580) $21,420

Managerial Accounting
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter7: Variable Costing For Management analysis
Section: Chapter Questions
Problem 5E: On April 30, the end of the first month of operations, Joplin Company prepared the following income...
See similar textbooks
icon
Related questions
Question

need true help with whole work for easily understanding

 

 

Total variable cost of goods sold Manufacturing margin Variable selling and administrative expenses Contribution margin Fixed costs: Fixed manufacturing costs Fixed selling and administrative expenses Total fixed costs Operating income ✓ ✓ ✓ ✓ 00 000 00
Transcribed Image Text:Total variable cost of goods sold Manufacturing margin Variable selling and administrative expenses Contribution margin Fixed costs: Fixed manufacturing costs Fixed selling and administrative expenses Total fixed costs Operating income ✓ ✓ ✓ ✓ 00 000 00
On April 30, the end of the first month of operations, Joplin Company prepared the following income statement, based on the absorption costing concept: Joplin Company Absorption Costing Income Statement For the Month Ended April 30 Sales (5,900 units) Cost of goods sold: Cost of goods manufactured (6,700 units) Inventory, April 30 (900 units) Total cost of goods sold Gross profit Selling and administrative expenses Operating income Joplin Company Variable Costing Income Statement For the Month Ended April 30 Sales ✓ Variable cost of goods sold: Variable cost of goods manufactured If the fixed manufacturing costs were $28,944 and the fixed selling and administrative expenses were $13,510, prepare an income statement according to the variable costing concept. Round all final answers to whole dollars. Inventory, April 30 ✓ Total variable cost of goods sold Manufacturing margin $120,600 (16,200) ✓ ✓ $153,400 (104,400) $49,000 (27,580) $21,420
Transcribed Image Text:On April 30, the end of the first month of operations, Joplin Company prepared the following income statement, based on the absorption costing concept: Joplin Company Absorption Costing Income Statement For the Month Ended April 30 Sales (5,900 units) Cost of goods sold: Cost of goods manufactured (6,700 units) Inventory, April 30 (900 units) Total cost of goods sold Gross profit Selling and administrative expenses Operating income Joplin Company Variable Costing Income Statement For the Month Ended April 30 Sales ✓ Variable cost of goods sold: Variable cost of goods manufactured If the fixed manufacturing costs were $28,944 and the fixed selling and administrative expenses were $13,510, prepare an income statement according to the variable costing concept. Round all final answers to whole dollars. Inventory, April 30 ✓ Total variable cost of goods sold Manufacturing margin $120,600 (16,200) ✓ ✓ $153,400 (104,400) $49,000 (27,580) $21,420
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 4 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Knowledge Booster
Accounting for Merchandise Inventory
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub
Managerial Accounting: The Cornerstone of Busines…
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Cornerstones of Cost Management (Cornerstones Ser…
Cornerstones of Cost Management (Cornerstones Ser…
Accounting
ISBN:
9781305970663
Author:
Don R. Hansen, Maryanne M. Mowen
Publisher:
Cengage Learning
Principles of Accounting Volume 2
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Financial And Managerial Accounting
Financial And Managerial Accounting
Accounting
ISBN:
9781337902663
Author:
WARREN, Carl S.
Publisher:
Cengage Learning,
Principles of Cost Accounting
Principles of Cost Accounting
Accounting
ISBN:
9781305087408
Author:
Edward J. Vanderbeck, Maria R. Mitchell
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS