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Exercise 19-8(Algo) Variable costing income statement LO P2 5 points Kenzi, a manufacturer...

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Accounting

Exercise 19-8(Algo) Variable costing income statement LO P2
5
points
Kenzi, a manufacturer of kayaks, began operations this year. During this year, the company produced 1,000 kayaks and sold 750 at a price of $1,000 each. At year-end, the company reported the following income statement information using absorption costing.
Sales (750$1,000)
Cost of goods sold (750$450)
Gross profit
Selling and administrative expenses
Income
\table[[$750,000
image

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