Create an income statement for Candyco

Reference no: EM132846934

Question - Candyco's annual budget included $7500 in MOH and it expected to have 5000 direct labor hours (its cost driver). Actual results were as follows:

	1/1	12/31
Raw Materials	$5200	$6900
WIP	$7050	$9100
FG	$4250	$2100

Candyco purchased $82,340 in ingredients and paid $132,750 in DL costs. Its factory workers worked 5100 hours during the year. Sales were $911,567 and SG&A costs were $18,562. Create an income statement for Candyco.

Reference no: EM132846934

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