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Prepare the Income Statement of Carry Manufacturers for July 2022 using the marginal costing method....

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Question

Accounting

Prepare the Income Statement of Carry Manufacturers for July 2022 using the marginal costing method.

INFORMATION

The following information relates to the only product produced by Carry Manufacturers during July 2022:

Opening inventory

0

Number of units manufactured

5000

Number of units sold

4500

Selling price per unit

$300

Direct materials cost per unit

$60

Direct labour cost per unit

$40

Fixed manufacturing overheads cost

$90000

Variable manufacturing overheads per unit

$30

Fixed selling cost

$50000

Fixed administrative cost

$60000

Sales commission

$30 per unit

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