Answer Happy

The following data are for the year ended December
31, 2021:
















Beginning Inventory
170,000
units






Ending Inventory
69,000
units






Sales
690,800
units






Selling Price
33.00
per unit






Variable manufacturing cost per unit
7.65
per unit






Variable operating (marketing) cost per unit sold
1.65
per unit sold






Fixed manufacturing costs
2,880,000







Fixed operating (marketing) costs
2,160,000
















The Company budgeted:
450,000
units of goods sold in the month in which it
occurs.












Assume standard costs per unit are the same for
units in beginning inventory and units produced during the
year.



Also, assume no price, spending, or efficiency
variances. Any production-volume variance is written off to cost of
goods sold.






Prepare the variable-costing income statement for
the year ended December 31, 2021.
Do not type dollar signs ($) or spaces
(_).







Revenues

$


Cost of Goods Sold:




Beginning Inventory
$



Variable Manufacturing Costs
$



Cost of Goods Available for Sale
$



Ending Inventory
$



Variable Cost of Goods Sold
$



Variable Operating Costs
$



Total Variable
Costs

$


Gross Margin

$


Fixed Costs:




Fixed Manufacturing Costs
$



Fixed Operating Costs
$



Total Fixed
Costs

$


Operating Income

$