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Prepare an income statement for the year ended December 31, 20X6, by using direct
How do I prepare an Income statement for: The information that follows pertains to Consumer Products for the year ended December 31, 20X6.
Inventory, 1/1/X6 24,000 units Units manufactured 80,000 Units sold 82,000 Inventory, 12/31/X6 22,000 units Manufacturing costs: Direct materials $3 per unit Direct labor $5 per unit Variable factory overhead $9 per unit Fixed factory overhead $280,000 Selling & administrative expenses: Variable $2 per unit Fixed $136,000 The unit selling price is $26. Assume that costs have been stable in recent years. Using direct costing |
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