Cornerstones of Managerial Accounting 4th Edition by Maryanne Mowen, Don Hansen, Dan Heitger

Exercise 42

Variable-Costing Income Statement
During the most recent year, Osterman Company had the following data:
Refer to the data for Osterman Company on the previous page.
Required:
1. Calculate the cost of goods sold under variable costing.
2. Prepare an income statement using variable costing.