Business, 06.04.2021 01:00 kebo63

Variable Costing Income Statement On November 30, the end of the first month of operations, Weatherford Company prepared the following income statement, based on the absorption costing concept: Weatherford Company Absorption Costing Income Statement For the Month Ended November 30 Sales (6,400 units) $224,000 Cost of goods sold: Cost of goods manufactured (7,400 units) $185,000 Inventory, November 30 (1,000 units) (25,000) Total cost of goods sold 160,000 Gross profit $64,000 Selling and administrative expenses 38,730 Income from operations $25,270 Assume the fixed manufacturing costs were $46,250 and the fixed selling and administrative expenses were $18,970. Prepare an income statement according to the variable costing concept. Round all final answers to whole dollars. Weatherford Company Variable Costing Income Statement For the Month Ended November 30 Sales

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Variable Costing Income Statement On November 30, the end of the first month of operations, Weatherf...

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