Business, 22.04.2020 04:17 orcawave6769

Ormand Company uses variable costing for internal decision-making purposes and has the following information for June: Sales $900,000 Variable cost of goods sold 440,000 Fixed manufacturing costs 160,000 Variable selling and administrative expenses 100,000 Fixed selling and administrative expenses 70,000 Determine the income from operations for June.

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Answer from: SoccerHalo

$130000

Explanation:

Given: Sales revenue= $900000.

Variable cost of goods sold= $440000.

Fixed manufacturing cost= $160000

Variable selling and administration expense= $100000.

Fixed selling and administrative expense= $70000.

Now, finding the income from operation for June.

Formula; Income from operation= $Revenue- cost\ of\ goods\ sold- administrative\ expense$

⇒ Income from operation= $\$ 900000- \$ 440000-\$ 160000- (\$ 100000+\$ 70000)$

⇒ Income from operation= $\$ 900000- \$ 600000- \$ 170000$

⇒ Income from operation= $\$ 900000 - \$ 770000$

∴ Income from operation= $\$ 130000$

Hence, $130000 is the income from operation for June.

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