On October 31, the end of the first month of operations, Morristown & Co. prepared the following income statement based on absorption costing:

If the fixed manufacturing costs were $42,900 and the variable selling and administrative expenses were $14,600, prepare an income statement using variable costing.

Question

On October 31, the end of the first month of operations, Morristown & Co. prepared the following income statement based on absorption costing:
 
 If the fixed manufacturing costs were $42,900 and the variable selling and administrative expenses were $14,600, prepare an income statement using variable costing.

Quizplus · Accepted Answer

The Answer of On October 31, the end of the first month of operations, Morristown & Co. prepared the following income statement based on absorption costing:
 
 If the fixed manufacturing costs were $42,900 and the variable selling and administrative expenses were $14,600, prepare an income statement using variable costing.

On October 31, the End of the First Month of Operations