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Fleet-of-Foot Inc. Product Income StatementsAbsorption Costing For the Year Ended December 31 Line Item Description...

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Accounting

Fleet-of-Foot Inc. Product Income StatementsAbsorption Costing For the Year Ended December 31 Line Item Description Cross Training Shoes Golf Shoes Running Shoes Revenues $453,100 $280,900 $241,600 Cost of goods sold (235,600) (137,600) (161,900) Gross profit $217,500 $143,300 $79,700 Selling and administrative expenses (187,100) (103,200) (133,100) Operating income $30,400 $40,100 $(53,400) In addition, you have determined the following information with respect to allocated fixed costs: Line Item Description Cross Training Shoes Golf Shoes Running Shoes Fixed costs: Cost of goods sold $72,500 $36,500 $33,800 Selling and administrative expenses 54,400 33,700 33,800 These fixed costs are used to support all three product lines and will not cha

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