the income statement in the traditional reporting format for green products inc for 544743
Variable Costing Income Statement
E 10. The income statement in the traditional reporting format for Green Products, Inc., for the year ended December 31, is as follows:
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the income statement in the traditional reporting format for green products inc for 544743
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|
Sales |
$296,400 |
|
Cost of goods sold |
112,750 |
|
Gross margin |
$183,650 |
|
Selling expenses |
|
|
Variable |
69,820 |
|
Fixed |
36,980 |
|
Administrative expenses |
27,410 |
|
Operating income |
$ 49,440 |
Total fixed manufacturing costs for the year were $16,750. All administrative expenses are considered to be fixed.
Using this information, prepare an income statement for Green Products, Inc., for the year ended December 31, using the variable costing format.
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