Absorption Costing Income Statement On March 31, the end of the first month of operations,...
60.1K
Verified Solution
Link Copied!
Question
Accounting
Absorption Costing Income Statement On March 31, the end of the first month of operations, Sullivan Equipment Company prepared the following income statement, based on the variable costing concept Sullivan Equipment Company Variable Costing Income Statement For the Month Ended March 31 Sales (9,400 units) $526,400 Variable cost of goods sold: Variable cost of goods manufactured $255,200 (48,400) Inventory, March 31 (2,200 units) Total variable cost of goods sold Manufacturing argin Variable selling and administrative expenses Contribution margin Fixed costs: 206,800 $319,600 141,000 $178,600 Fixed manufacturing costs Fixed selling and administrative expenses Total fixed costs $46,400 37,600 84,000 Income from operations $94,600 Prepare an income statement under absorption costing. Round all final answers to whole dollars. Sullivan Equipment Company Absorption Costing Income Statement For the Month Ended March 31 Cost of goods sold
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!
