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 (104,000 units) $5,200,000
cost of goods sold:
cost of goods manufactured (120,000 units) $4,560,000
inventory, november 30 (16,000 units) (608,000)
total cost of goods sold 3,952,000
gross profit $1,248,000
selling and administrative expenses 400,000
income from operations $848,000
assume the fixed manufacturing costs were $960,000 and the fixed selling and administrative expenses were $280,000.
1. prepare an income statement according to the variable costing concept.

Which of the following is an example of an unsought good? a. cameron purchases a new bike. b. jordan buys paper towels. c. taylor buys cupcakes from her favorite bakery. d. riley buys new windshield wipers for her car.

Xyz corporation has provided the following data concerning manufacturing overhead for july: actual manufacturing overhead incurred $ 69,000 manufacturing overhead applied to work in process $ 79,000 the company's cost of goods sold was $243,000 prior to closing out its manufacturing overhead account. the company closes out its manufacturing overhead account to cost of goods sold. which of the following statements is true? multiple choice manufacturing overhead was overapplied by $10,000; cost of goods sold after closing out the manufacturing overhead account is $253,000 manufacturing overhead was underapplied by $10,000; cost of goods sold after closing out the manufacturing overhead account is $233,000 manufacturing overhead was underapplied by $10,000; cost of goods sold after closing out the manufacturing overhead account is $253,000 manufacturing overhead was overapplied by $10,000; cost of goods sold after closing out the manufacturing overhead account is $233,000

The adjusted trial balance for china tea company at december 31, 2018, is presented below: