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Home Q & A Board Other Fields Homework Help Business Economics
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dxpayne dxpayne
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6 years ago
Megredy Company prepared the following absorption costing income statement for the year ended May 31, 2016.

Sales (16,000 units)   $320,000
Cost of goods sold   216,000
Gross margin   $104,000
Selling and administrative expenses   46,000
Operating income   $58,000

Additional information follows:
Selling and administrative expenses include $1.50 of variable cost per unit sold. There was no beginning inventory, and 17,500 units were produced. Variable manufacturing costs were $11 per unit. Actual fixed costs were equal to budgeted fixed costs.

Required:   
Prepare a variable-costing income statement for the same period.
Textbook 
Cost Accounting: A Managerial Emphasis, Canadian Edition

Cost Accounting: A Managerial Emphasis, Canadian Edition


Edition: 7th
Authors:
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MunihasenMunihasen
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6 years ago
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dxpayne Author
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6 years ago
Thank you, thank you, thank you!
MLynneMcMillan
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Yesterday
Correct Slight Smile TY
Chaldoren
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2 hours ago
Thanks
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