Business, 18.09.2021 03:20 ramamullapudi3639

Income Statements under Absorption Costing and Variable Costing Gallatin County Motors Inc. assembles and sells snowmobile engines. The company began operations on July 1 and operated at 100% of capacity during the first month. The following data summarize the results for July: Sales (15,000 units) $1,650,000 Production costs (19,000 units): Direct materials $773,300 Direct labor 370,500 Variable factory overhead 186,200 Fixed factory overhead 123,500 1,453,500 Selling and administrative expenses: Variable selling and administrative expenses $225,300 Fixed selling and administrative expenses 87,200 312,500 If required, round interim per-unit calculations to the nearest cent. a. Prepare an income statement according to the absorption costing concept.

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Income Statements under Absorption Costing and Variable Costing Gallatin County Motors Inc. assemble...

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