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book Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac cover

Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac

Edition 26ISBN: 978-1337498159
book Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac cover

Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac

Edition 26ISBN: 978-1337498159
Exercise 8
Variable costing income statement
On July 31, 2016, the end of the first month of operations, Rhys Company prepared the following income statement, based on the absorption costing concept:
Variable costing income statement  On July 31, 2016, the end of the first month of operations, Rhys Company prepared the following income statement, based on the absorption costing concept:     a. Prepare a variable costing income statement, assuming that the fixed manufacturing costs were $132,000 and the variable selling and administrative expenses were $115,200. b. Reconcile the absorption costing income from operations of $1,656,000 with the variable costing income from operations determined in (a).
a. Prepare a variable costing income statement, assuming that the fixed manufacturing costs were $132,000 and the variable selling and administrative expenses were $115,200.
b. Reconcile the absorption costing income from operations of $1,656,000 with the variable costing income from operations determined in (a).
Explanation
Verified
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A product cost comprises of variable cos...

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Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
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