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Make an income statement for presentation to management

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Reference no: EM132716808

Problem - The following data were taken from the records of Griggs Company for December:

Administrative expenses

$100,800

Cost of goods sold (at standard)

550,000

Direct materials price variance-unfavorable

1,680

Direct materials quantity variance-favorable

(560)

Direct labor rate variance-favorable

(1,120)

Direct labor time variance-unfavorable

490

Variable factory overhead controllable variance-favorable

(210)

Fixed factory overhead volume variance-unfavorable

3,080

Interest expense

2,940

Sales

868,000

Selling expenses

125,000

Required - Make an income statement for presentation to management.

Reference no: EM132716808

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