Morristown & Co. Absorption Costing Income Statement For Month Ended October 31, 20-- Sales (2,600...
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Morristown & Co. Absorption Costing Income Statement For Month Ended October 31, 20-- Sales (2,600 units) $117,000 Cost of goods sold: Cost of goods manufactured $85,500 Less ending inventory (400 units) 11,400 Cost of goods sold 74,100 Gross profit $42,900 Selling and administrative expenses 21,500 Income from operations $21,400 If the fixed manufacturing costs were $42,900 and the variable selling and administrative expenses were $14,600, prepare an income statement using variable costing. Morristown & Co. Variable Costing Income Statement For Month Ended October 31, 20-- $ Variable cost of goods sold: $ $ $ Fixed costs: $ Income from operations $
Income from operations If the fixed manufacturing costs were $42,900 and the va Morristown & Co. Variable Costing Income Statement For Month Ended October 31, 20-- Variable cost of goods sold: Fixed costs: Income from operations
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