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Gaxter Company sold 8,600 units at $125 per unit. Normal production is 9,000 units. Standard:...

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Accounting

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Gaxter Company sold 8,600 units at $125 per unit. Normal production is 9,000 units. Standard: 5 yards per unit at $6.30 per yard Standard: 2.25 hours per unit at $15.00 Standard: Variable overhead at $1.05 per unit. Standard: Fixed overhead $211,50 (budgeted and actual amount) Actual yards used: 43,240 yards at $6.25 per yard Actual hours worked: 19,100 hours at $14.90 per hour Actual total factory overhead: $235,500 Prepare an income statement that includes variances for the year ending December 31 through gross profit for Baxter Company using the above information. Enter f avorable variances as negative numbers. Do not round fixed overhead rate calculation when determining fixed factory overhead volume variance

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