The Following Data Has Been Provided by Zimtex,Inc There Are No Beginning Inventories

question 5

Essay

The following data has been provided by Zimtex,Inc.for the year.
$$\begin{array} { | l | r | r|} \hline \text { Units produced and sold } & 5,500 &\text { units } \\\hline \text { Sales price } & \$ 300& \text { per unit } \\\hline \text { Direct materials } & \$ 90& \text { per unit } \\\hline \text { Direct labor } & \$ 50& \text { per unit } \\\hline \text { Variable manufacturing overhead } & \$ 40& \text { per unit } \\\hline \text { Fixed manufacturing overhead } & \$ 110,000 &\text { per year } \\\hline \text { Fixed selling and administrative costs } & \$ 150,000& \text { per year } \\\hline\end{array}$$ There are no beginning inventories.Prepare an income statement using the contribution margin format.

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Definitions:

Battery

A criminal offense involving the unlawful physical acting upon a threat, distinct from assault which is the act of creating apprehension of such contact.

Ear-Nose-And-Throat

A medical specialty that deals with diseases and disorders of the ear, nose, and throat.

Eavestrough Downspout

A vertical pipe that is connected to a gutter system, used to channel rainwater from the roof to the ground or drainage system.

Flooding

An overflow of water onto land that is normally dry, often caused by heavy rain, melting snow, or breaches in water control structures.