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View Full Version : b. Prepare an income statement for the current year ended December 31


krisyneal
Jun 16, 2015, 01:49 PM
Manufacturing statements and cost behavior
Tampa Foundry began operations during the current year, manufacturing various products for industrial use. One such product is light-gauge aluminum, which the company sells for $36 per roll. Cost information for the year just ended follows.


Per Unit



Variable Cost


Fixed Cost


Direct materials



$4.50


$ —


Direct labor



6.5





Factory overhead



9


50,000


Selling






70,000


Administrative






135,000










Production and sales totaled 20,000 rolls and 17,000 rolls, respectively There is no work in process. Tampa carries its finished goods inventory at the average unit cost of production.
a. Prepare an income statement for the current year ended December 31

Curlyben
Jun 16, 2015, 01:51 PM
What do YOU think ?
While we're happy to HELP we wont do all the work for you.
Show us what you have done and where you are having problems..