Isphase,Inc There Are No Beginning Inventories

question 184

Essay

Isphase,Inc.has provided the following financial data for the year ended December 31,2017:
$$\begin{array} { | l | r | l|} \hline \text { Units produced and sold } & 3,500& \text { units } \\\hline \text { Sales price } & \$ 220 &\text { per unit } \\\hline \text { Direct materials } & \$ 25& \text { per unit } \\\hline \text { Direct labor } & \$ 45 &\text { per unit } \\\hline \text { Variable manufacturing overhead } & \$ 30 &\text { per unit } \\\hline \text { Variable selling and administrative costs } & \$ 20 &\text { per unit } \\\hline \text { Fixed manufacturing overhead } & \$ 105,000 &\text { per year } \\\hline \text { Fixed selling and administrative costs } & \$ 140,000 &\text { per year } \\\hline\end{array}$$ There are no beginning inventories.Prepare an income statement for the year using the traditional format.

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Definitions:

Cast Operator

A special operator used in programming languages to explicitly convert a variable from one type to another.

System.out.PrintLn

A method in Java used to print information to the console, with a newline character appended at the end to move to the next line.

Strongly Typed

A characteristic of programming languages where each variable and expression type is explicitly declared or strongly enforced.

Scanner Object

An object in Java used to read input from various sources, including user input from the console.