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Atlas Manufacturing Is Closing the Year 2012

question 49

Essay

Atlas Manufacturing is closing the year 2012. Atlas uses standard costing methodology in its accounting system and for internal performance reporting. Atlas's ending balances are shown here: $Atlas Manufacturing is closing the year 2012. Atlas uses standard costing methodology in its accounting system and for internal performance reporting. Atlas's ending balances are shown here: Using the format below, please prepare a statement of operating income. \begin{array} { | l | l | l | l | } \hline \text { Sales revenue (standard) } &\quad\quad & \quad\quad&\quad\quad \\ \hline \text { Sales revenue variance } & & & \\ \hline \text { Sales revenue (actual) } & & & \\ \hline \text { Cost of goods sold (standard) } & & & \\ \hline \text { Manufacturing variances } & & & \\ \hline \text { (Credit balances in parentheses) } & & & \\ \hline \text { Direct materials price variance } & & & \\ \hline \text { Direct materials efficiency variance } & & & \\ \hline \text { Direct labor price variance } & & & \\ \hline \text { Direct labor efficiency variance } & & & \\ \hline \text { Variable overhead spending variance } & & & \\ \hline \text { Variable overhead efficiency variance } & & & \\ \hline \text { Fixed overhead spending variance } & & & \\ \hline \text { Fixed overhead volume variance } & & & \\ \hline \text { Cost of goods sold (actual) } & & & \\ \hline \text { Gross profit } & & & \\ \hline \text { Selling \& admin. expenses } & & & \\ \hline \text { Net operating income/(loss) } & & & \\ \hline \end{array}$
Using the format below, please prepare a statement of operating income.
$\begin{array} { | l | l | l | l | } \hline \text { Sales revenue (standard) } &\quad\quad & \quad\quad&\quad\quad \\\hline \text { Sales revenue variance } & & & \\\hline \text { Sales revenue (actual) } & & & \\\hline \text { Cost of goods sold (standard) } & & & \\\hline \text { Manufacturing variances } & & & \\\hline \text { (Credit balances in parentheses) } & & & \\\hline \text { Direct materials price variance } & & & \\\hline \text { Direct materials efficiency variance } & & & \\\hline \text { Direct labor price variance } & & & \\\hline \text { Direct labor efficiency variance } & & & \\\hline \text { Variable overhead spending variance } & & & \\\hline \text { Variable overhead efficiency variance } & & & \\\hline \text { Fixed overhead spending variance } & & & \\\hline \text { Fixed overhead volume variance } & & & \\\hline \text { Cost of goods sold (actual) } & & & \\\hline \text { Gross profit } & & & \\\hline \text { Selling \& admin. expenses } & & & \\\hline \text { Net operating income/(loss) } & & & \\\hline\end{array}$

Definitions:

Humanistic Therapist

A type of psychotherapist who focuses on the individual's experience and emphasizes personal growth, self-actualization, and realizing one's potential.

Family Therapy

A form of psychotherapy that aims to address psychological issues and improve relationships within a family by treating the family as a whole.

Collectivist Cultures

Cultures that emphasize the needs and goals of the group as a whole over the needs and desires of each individual.

Humanistic Therapy

A psychotherapeutic approach that emphasizes an individual's inherent drive towards self-actualization and creativity, focusing on the whole person and their unique perspective.