Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. trez company began operations this year. during th

Trez Company began operations this year. During this year, the company produced 100,000 units and...

50.1K

Verified Solution

Question

Accounting

image

image

Trez Company began operations this year. During this year, the company produced 100,000 units and sold 80,000 units. The absorption costing income statement for this year follows. Income Statement (Absorption Costing) Sales (80,000 units X $50 per unit) Cost of goods sold Gross profit Selling and administrative expenses Income $ 4,000,000 2,400,000 1,600,000 580,000 $ 1,020,000 Additional Information a. Selling and administrative expenses consist of $400,000 in annual fixed expenses and $2.25 per unit in variable selling and administrative expenses. b. The company's product cost of $30 per unit consists of the following. Direct materials Direct labor Variable overhead Fixed overhead ($600,000 / 100,000 units) $ 4 per unit $ 18 per unit $ 2 per unit $ 6 per unit Required: Prepare an income statement for the company under variable costing. TREZ Company Income Statement (Variable Costing)

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!
Become a Member

Other questions asked by students

Q

A bag contains four quarters, one nickel, one dime, and five pennies. We reach with our...

Statistics
Q

A polaroid is placed in the path of an incoming unpolarised light of intensity lo...

Physics
Q

7 P 7 cm R 13 cm 11 cm 8 5 5 ft M 6...

Geometry
Q

board game uses the deck of 20 cards own to the right Two cards are...

Basic Math
Q

Solve by completing the square and applying the square root property Express the solution set...

Basic Math
Q

The transformation that has translation and a reflection across a line parallel to the direction...

Basic Math
Q

Use the Law of Sines to solve the triangle If an answer does not exist...

Calculus
Q

The retained earnings of a corporation is 0 A....

Accounting
Q

Need it ASAP PLEASE Two months ago, Dawes Incorporated broke...

Accounting
Q

This question is to be answered using EXCEL Spreadsheets

Accounting
Q

Hello there, can someone help me to complete part (c) the Income Statement? The unadjusted...

Accounting
Q

Hi, I have a question. The paper say, " The video "Bigger than Enron" 's...

Accounting