Business, 18.03.2021 23:20 Madalyngarcia20

Gallatin County Motors Inc. assembles and sells snowmobile engines. The company began operations on July 1 and operated at 100% of capacity during the first month. The following data summarize the results for July: Sales (14,500 units) $1,305,000 Production costs (19,000 units): Direct materials $632,700 Direct labor 304,000 Variable factory overhead 152,000 Fixed factory overhead 100,700 1,189,400 Selling and administrative expenses: Variable selling and administrative expenses $184,400 Fixed selling and administrative expenses 71,400 255,800 If required, round interim per-unit calculations to the nearest cent. a. Prepare an income statement according to the absorption costing concept.

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Gallatin County Motors Inc. assembles and sells snowmobile engines. The company began operations on...

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