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sellall department stores reported the following amounts in its adjusted trial balance prepared as of its december 31 year-end: administrative expenses, $2,100; cost of goods sold, $21,060; income tax expense, $2,930; interest expense, $1,500; interest revenue, $180; general expenses, $2,300; sales revenue, $39,000; sales discounts, $1,950; sales returns and allowances, $1,755; and delivery (freight-out) expense, $270.

prepare a multistep income statement for distribution to external financial statement users. fill in the blank and the rest of the table
sellall department stores

income statement
for the year ended december 31
cost of goods sold 21,060
gross profit
operating expenses 4,670
income from operations
interest revenue 180
income before income tax expense
net income $

Speedy auto repairs uses a job-order costing system. the company’s direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics’ hourly wages. speedy’s overhead costs include various items, such as the shop manager’s salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room. the company applies all of its overhead costs to jobs based on direct labor-hours. at the beginning of the year, it made the following estimates: direct labor-hours required to support estimated output 20,000 fixed overhead cost $ 350,000 variable overhead cost per direct labor-hour $ 1.00 required: 1. compute the predetermined overhead rate. 2. during the year, mr. wilkes brought in his vehicle to replace his brakes, spark plugs, and tires. the following information was available with respect to his job: direct materials $ 590 direct labor cost $ 109 direct labor-hours used 6