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1.
Sales
Gross profit
Total selling expenses
Operating income
Cost of goods sold supporting calculation:
Manufacturing cost per unit:
Direct materials:
Leather
Velvet (for interior)
Packaging
Total direct materials
Direct labor
Factory overhead
Total manufacturing cost per unit
x Number of units sold
Cost of goods sold
2.
Finished goods inventory balance, December 31, 20Y3:
Units produced
Less: Units sold
Units remaining in inventory
x Manufacturing cost per unit
Balance
Work in process inventory balance, December 31, 20Y3:
0%
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Technology Accessories Inc.
Income Statement
For the Year Ended December 31, 20Y3
Problem 16(2)-5B
Name:
Section:
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1.
Gross profit 6,486,000$
Selling expenses:
Total selling expenses (5,830,000)
Operating income 656,000$
Cost of goods sold supporting calculation:
Manufacturing cost per unit:
2.
Income Statement
For the Year Ended December 31, 20Y3
Technology Accessories Inc.
Problem 16(2)-5B
Name:
Solution
Section:
ON
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Instructions
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