Ida Sidha Karya Company Is a Family-owned Company Located in the Village of Gianyar
Prepare an income statement
Ida Sidha Karya Company is a family-endemic company located in the village of Gianyar on the isle of Bali in Indonesia. The company produces a handcrafted Balinese musical instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $950. Selected data for the visitor'southward operations last yr follow: Units in beginning inventory 0 Units produced 250 Units sold 235 Units in ending inventory 15 Variable costs per unit of measurement: Directly materials $ 135 Direct labor $ 345 Variable manufacturing overhead $ 30 Variable selling and authoritative $ 20 Fixed costs: Fixed manufacturing overhead $ 65,000 Fixed selling and authoritative $ 25,000 The absorption costing income statement prepared by the company's accountant for last twelvemonth appears below: Sales $ 223,250 Price of goods sold 180,950 Gross margin 42,300 Selling and administrative expense 29,700 Net operating income $ 12,600
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Prepare an income argument
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