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Diamond Industries has one product. Information about the production and sales of that product for...

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Accounting

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Diamond Industries has one product. Information about the production and sales of that product for the past year follow, Click the icon to view the data) The company had no beginning inventory Read the requirements Less Cost of goods sold ZUUUU Gross profit S 190.000 Data Table 65,000 Less Operating expenses $ 125.000 Operating income Selling price per unit $ 47.00 Now prepare the income statement for the year using variable costing Direct material per unit $ 15.00 Diamond Industries Direct labor per unit. $ 3.00 Contribution Margin Income Statement (Variable Costing) Total annual manufacturing overhead. $ 140,000 For the Year Ended Fixed portion of annual manufacturing overhead .$ 125,000 Sales revenge 470,000 Variable operating expenses per unit sold $ 2.00 Variable expenses Fixed operating expenses per year in total $ 45.000 Variable operating expenses 20,000 Units manufactured 14.000 Variable cost of goods sold Units sold 10,000 Contribution margin Less Fed expenses Print Done Find manufacturing overhead 120,000 Find operating expenses 45,000 Operating income Choose from any it or enter any number in the input fields and then click Check Answer parts remaining Clear All 30 A

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