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San Diego State University Operations And Supply Chain Management Assignment Help - Income

Question - 2. The variable costing income statement for Vamonos Company for 2014 is as follows: Sales (5,000 units) $100,000 Variable expenses: Cost of goods sold $30,000 Selling (10% of sales) 10,000 40,000 Contribution margin $ 60,000 Fixed expenses: Manufacturing overhead $24,000 Administrative 14,400 38,400 Operating income $ 21,600 Selected data for 2014 concerning the operations of the company are as follows: Beginning inventory -0- units Units produced 8,000 units Manufacturing costs: Direct labor $3.00 per unit Direct materials 1.60 per unit Variable overhead 1.40 per unit Required: Prepare an absorption costing income statement for 2014.

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