Joplin Company Variable Costing Income Statement For the Month Ended April 30 Sales 156,000 Variable...
90.2K
Verified Solution
Link Copied!
Question
Accounting
Joplin Company Variable Costing Income Statement For the Month Ended April 30 Sales 156,000 Variable cost of goods sold: Variable cost of goods manufactured LA 104,720 Inventory, April 30 14,960 Total variable cost of goods sold 89,760 Manufacturing margin 66,240 Variable selling and administrative expenses V 24,680 X Contribution margin Fixed costs:On April 30, the end of the first month of operations, Joplin Company prepared the following income statement, based on the absorpt'c costing concept: Joplin Company Absorption Costing Income Statement For the Month Ended April 30 Sales (6,500 units) $156,000 Cost of goods sold: Cost of goods manufactured (7,700 units) $130,900 Inventory, April 30 (1,100 units) (18,700) Total cost of goods sold (112,200) Gross prot $43,800 Selling and administrative expenses (24,680) Operating income $19,120 If the fixed manufacturing costs were $25,180 and the xed selling and administrative expenses were $12,090, prepare an income statement according to the variable costing concept. Round all nal answers to whole dollars. Joplin Company Variable Costing Income Statement For the Month Ended April 30 Sales v J $| '155,000| J
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!
Link Copied!
