Question

Variable-Costing Income Statement During the most recent year, Osterman Company had the following data: Units in...

  1. Variable-Costing Income Statement

    During the most recent year, Osterman Company had the following data:

    Units in beginning inventory —
    Units produced 10,000
    Units sold ($47 per unit) 9,300
    Variable costs per unit:
    Direct materials $9
    Direct labor $6
    Variable overhead $4
    Fixed costs:
    Fixed overhead per unit produced $5
    Fixed selling and administrative $138,000

    Required:

    1. Calculate the cost of goods sold under variable costing.

    $

    2. Prepare an income statement using variable costing. Enter amounts as positive numbers.

    Osterman Company
    Income Statement under Variable Costing
    For the Most Recent Year
    $
    $
    $
    $
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