i have asked several chegg experts to help but no one has helped me get...

60.1K

Verified Solution

Question

Accounting

i have asked several chegg experts to help but no one has helped me get the correct amswers plz help
pt 1
image
pt 2
image
image
uring the first month of operations ended March 31, IceBox Fridgeratic ompany manufactured 40,000 mini refrigerators, of which 36,000 were pld. Operating data for the month are summarized as follows: Required: 1. Prepare an income statement based on the absorption costing concept. 2. Prepare an income statement based on the variable costing concept. 3. Explain the reason for the difference in the amount of operating income reported in (1) and (2). 2. Prepare an income statement based on the variable costing concept. Question not attempted. in Poins: 0iras: Feedback " Check My Work Sales - Variable Cost of Goods Sold = = Manufacturing Margin; Manufacturing Margin - Variable Selling and Administrative Expenses = Contribution Margin; Contribution Margin - (Fixed Manufacturing Costs + Fixed Selling and Administrative Expenses) = Operating Income "Variable Cost of Goods Sold = Variable Cost of Goods Manufactured - I(Manufactured Units - Sold Units) (Variable Manufacturing Costs/Manufactured Units)] 2. Prepare an income statement based on the variable costing concept. Question not attempted

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students