In its income statement for the year ended December 31, 2020, Kingbird, Inc. reported the following condensed data. Operating expenses $736,070 Interest revenue $31,590
Cost of goods sold 1,314,300 Loss on disposal of plant assets 18,990
Interest expense 74,650 Net sales 2,415,700
Other comprehensive income 7,100

Required:
Prepare a multiple-step income statement.

Doogan corporation makes a product with the following standard costs: standard quantity or hours standard price or rate direct materials 2.0 grams $ 7.00 per gram direct labor 1.6 hours $ 12.00 per hour variable overhead 1.6 hours $ 6.00 per hour the company produced 5,000 units in january using 10,340 grams of direct material and 2,320 direct labor-hours. during the month, the company purchased 10,910 grams of the direct material at $7.30 per gram. the actual direct labor rate was $12.85 per hour and the actual variable overhead rate was $5.80 per hour. the company applies variable overhead on the basis of direct labor-hours. the direct materials purchases variance is computed when the materials are purchased. the materials quantity variance for january is: