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Calculate the cost of goods sold under variable costing

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Reference no: EM131137814

During the most recent year, Osterman Company had the following data:

Units in beginning inventory

 ---

Units produced

10,000

Units sold ($47 per unit)

9,300

Variable costs per unit:

  Direct materials

$9

  Direct labor

$6

  Variable overhead

$4

Fixed costs:

  Fixed overhead per unit produced

$5

  Fixed selling and administrative expenses

$138,000

Required:

1. Calculate the cost of goods sold under variable costing.

2. Prepare an income statement using variable costing.

Reference no: EM131137814

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