Question: Review given problem:
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Period 1
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Period 2
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Qty. produced
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12,000
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11,000
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Qty. Sold
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11,000
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12,000
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Sell price each
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$40
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$40
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Variable cost each
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$15
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$15
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Variable selling expense each
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$2
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$2
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Fixed manufacturing overhead
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$130,000
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$30,000
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Fixed Selling & Admin Expense
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$80,000
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$80,000
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Beginning inventory
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0
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compute
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|
Ending inventory
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compute
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0
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i. Compute beginning inventory of period 2.
ii. Compute ending inventory of period 1.
A. Produce for period 1 variable format income statement
B. Produce for period 1 FAC format income statement
C. Produce for period 2 variable format income statement
D. Produce for period 2 FAC format income statement.
Information related to above question is enclosed below:
Attachment:- 81554_1391849_Ch6HW---NOEXCEL.rar