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Homework answers / question archive /  Estimated income statements, using absorption and variable costing Instructions Instructions Prior to the first month of operations ending October 31, Marshall Inc

 Estimated income statements, using absorption and variable costing Instructions Instructions Prior to the first month of operations ending October 31, Marshall Inc

Accounting

 Estimated income statements, using absorption and variable costing Instructions Instructions Prior to the first month of operations ending October 31, Marshall Inc. estimated the following operating results: $2,304,000.00 1,152,000.00 > Sales (28,800 * $80) 2 Manufacturing costs (28,800 units): * Direct materials 4 Direct labor Variable factory overhead 6 Fixed factory overhead Fixed selling and administrative expenses 3 Variable selling and administrative expenses 259,200.00 5 172,800.00 244,800.00 7 29.400.00 34,500.00 The company is evaluating a proposal to manufacture 36,000 units instead of 28,800 units, thus creating an ending invertory of 7,200 units. Manufacturing the additional units will not chango salos, unit variable factory overhead costs, total fixed factory overhead cost, or total selling and administrative expenses. Absorption Costing Income Statement Shaded cells have feedback. a(1). Prepare an estimated income statement, comparing operating results il 28,800 and 36,000 units are manufactured in the absorption costing format. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading, A colon () will automatically appear if required. Round your unit cost to two decimal places and final answers to the nearest dollar amount. Enter all amounts as positive numbers. Score: 84/95 Marshall Inc. Absorption Costing Income Statement For the Month Ending October 31 28,800 Units Manufactured $2,304,000.00 36,000 Units Manufactured $2,304,000.00 2 Sales 4 $1,828,800.00 3 Cost of goods sold: Cost of goods manufactured 5 Inventory, October 31 Total cost of goods sold 7. Gross profit $1,828,800.00 365,7600 6 $1,828,800.00 $1,463,040.00 $475,200.00 $840,960.00 7. TAA Instructions = Absorption Costing Income Statement Shaded cells have feedback. For the Month Ending October 31 28,800 Units Manufactured $2,304,000.00 36,000 Units Manufactured $2,304,000,00 2 Sales $1,828,800.00 $1,828,800.00 365,760.00 3 Cost of goods sold: 4 Cost of goods manufactured 5 Inventory, October 31 Total cost of goods sold 7 Gross profit Selling and administrative expenses 9 Income from operations 6 $1,828,800.00 $1,463,040.00 $840,960.00 $475,200.00 63,900.00 $411,300.00 63,900.00 $777,060,00 Variable Costing Income Statement Shaded cells have feedback. a(2). Prepare an estimated income statement, comparing operating results if 28,800 and 36,000 units are manufactured in the variable costing format. Refer to the lists of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. A colon () will automatically appear if required. Enter all amounts as positive numbers Marshall Inc. Score: 137/149 Variable Costing Income Statement For the Month Ending October 31 1 28,800 Units Manufactured $2,304,000.00 36,000 Units Manufactured $2,304,000.00 2 Sales 5 Variable cost of goods sold: Variable cost of goods manufactured Inventory, October 31 Total variable cost of goods sold $1,584,000.00 $1,584,000.00 316,800.00 6 $1,584,000.00 $1,267,200.00 Manufacturina marin 20.000.00 (4 ????? Variable Costing Income Statement Shaded cells have feedback. 28,800 Units 36,000 Units Manufactured Manufactured $2,304,000.00 $2,304,000.00 2 Sales 3 Variable cost of goods sold: 4 Variable cost of goods manufactured $1,584,000.00 $1,584,000.00 316,800.00 5 Inventory, October 31 6 Total variable cost of goods sold $1,584,000.00 $1,267,200.00 7 Manufacturing margin $720,000.00 $1,036,800.00 34,500.00 8 Variable selling and administrative expenses 9. Contribution margin 34,500.00 $1,002,300.00 $685,500.00 $244,800.00 $244,800.00 10 Fixed costs: 11 Fixed factory overhead 12 Fixed selling and administrative expenses Total fixed costs 14 Income from operations 29,400.00 29,400.00 $274,200.00 15 $274,200.00 $411,300.00 $728,100.00

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