Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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Category > Accounting Posted 20 Aug 2017 My Price 11.00

YoSan Inc

Absorption and variable costing income   statements

 

During the first month of operations ended July 31, 2016, YoSan Inc. manufactured 2,400 flat panel televisions, of which 2,000 were sold. Operating data for the month are sum- marized  as follows:

Sales  .................................................................                       $2,150,000

Manufacturing costs:

Direct materials .....................................................          $960,000

Direct labor  ........................................................           420,000

Variable manufacturing cost   ........................................    156,000

Fixed manufacturing cost ...........................................   288,000                     1,824,000

Selling and administrative expenses:

 

 

Variable    ............................................................

$204,000

 

Fixed ...............................................................

     96,000

300,000

Instructions

3.     Prepare an income statement based on the absorption costing concept.

4.     Prepare an income statement based on the variable costing concept.

5.     Explain the reason for the difference in the amount of income from opera- tions reported in (1) and (2).

Answers

(5)
Status NEW Posted 20 Aug 2017 09:08 AM My Price 11.00

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