Use info below to answer requirement 2. The red X represent the wrong answer in

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Use info below to answer requirement 2. The red X represent the wrong answer in which you need to correct. Green checks no need to find answer. Fill in all


Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion Return to q 3 Denton Company manufactures and sells a single product. Cost data for the product are given Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Total variable cost per unit nts S 19 162,000 $ 334,000 Fixed costs per month s Pixed manufacturing overhead Fixed seliing and administrative Total fixed cost pes month The product sells for $53 per unit. Production and sales data for July and August, the first two months of operations, follow: ts July 23,000 27,000 August 27,000 1.000 The company's Accounting Department has prepared the following absorption costing income statements for July and August: Sales Cost of goods sold Gross margin $1,219,000 1,643,000 552,000 744,000 899, 000 Selling and administrative expenses195,000203,000 $ 472,000 696,000 667,000 Net operating income 3

Explanation / Answer

Variable costing income statement :

July August Sales 1219000 1643000 Less: Variable cost of goods sold (414000) (558000) Less: Variable selling and administrative exp (23000) (31000) Contribution margin 782000 1054000 Less: Fixed cost Manufacturing (162000) (162000) Selling and administrative exp (172000) (172000) Net operating income 448000 720000

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