22) Managerial Financial Accounting Assignments AP5-17 Solution

22) Managerial Financial Accounting Assignments AP5-17 Solution

Info iconThis preview shows pages 1–5. Sign up to view the full content.

View Full Document Right Arrow Icon
AP5-17
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Variable and Full Costing Income: Comprehensive Problem [LO 1,2,3] The following information relates to Jorgensen Manufacturing Products for calendar year 2011, the company's first year of operation: Uni ts pro duc ed 8,0 20 Uni ts sol d 7,1 80 Sell ing pric e per unit $4, 760 Dir ect mat eria l per unit $2, 010 Dir ect lab or per unit $1, 240 Var iabl e ma nuf act uri ng ove rhe ad per unit $91 0
Background image of page 2
Var iabl e sell ing cos t per unit $22 9 An nua l fixe d ma nuf act uri ng ove rhe ad $82 6,0 60 An nua l fixe d sell ing and ad min istr ativ e exp ens e $40 5,3 00
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Prepare an income statement using full costing. (List multiple entries from largest to smallest amounts, e.g. 10, 5, 2. Enter all amounts as positive amounts and subtract where necessary.) Jorgensen Manufacturing Income Statement For the Year End December 31, 2011 Sales $ 34,872,500 Less Cost of goods sold 31,646,250 Gross margin 3,226,250 Less: Variable selling expense 1,689,250 Fixed selling and administrative expenses 405,000 Net income $ 1,132,000 AP5-17
Background image of page 4
Image of page 5
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 10

22) Managerial Financial Accounting Assignments AP5-17 Solution

This preview shows document pages 1 - 5. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online