Gomez Electronics
Autor: Jerome Jimm Javier • July 8, 2016 • Case Study • 428 Words (2 Pages) • 1,397 Views
Case study- Gomez Electronics
- Using Exhibit 4, prepare the comparative income statements for the period July 1 through December 31, 2012.
Full Costing | Direct Costing | |||||||
Budgeted Sales & Budgeted Production Volume | Actual Sales & Actual Production Volume | Budgeted Sales & Budgeted Production Volume | Actual Sales & Actual Production Volume | |||||
Sales | $ | 1,108,000.00 | 997,000.00 | $ | 1,108,000.00 | 997,000.00 | ||
Standard COGS | 835,500.00 | 777,000.00 | ||||||
Standard gross margin | 272,500.00 | 331,000.00 | ||||||
Variances | ||||||||
Direct labor | 320,900.00 | 318,800.00 | 320,900.00 | 318,800.00 | ||||
Material | 355,000.00 | 345,600.00 | 355,000.00 | 345,600.00 | ||||
Variable mfg. overhead | 101,100.00 | 99,900.00 | 101,100.00 | 99,900.00 | ||||
Fixed mfg. overhead | 58,500.00 | 54,400.00 | - | - | ||||
Total variances | 42,600.00 | 45,500.00 | ||||||
Total fixed overhead | 818,700.00 | 764,300.00 | ||||||
Actual gross margin | 178,300.00 | 232,700.00 | ||||||
Selling, general and | ||||||||
administrative expenses | $ | 167,100.00 | 165,300.00 | $ | 167,100.00 | 165,300.00 | ||
Net income | $ | 105,400.00 | 13,000.00 | $ | 163,900.00 | 67,400.00 |
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