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Create an income statement for Candyco

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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: EM132853105

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