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

question 88

Essay

The following data has been provided by Zimtex,Inc.for the year ended December 31,2017.
$$\begin{array} { | l |r | l|} \hline \text { Units produced and sold } & 5,500& \text { units } \\\hline \text { Sales price } & \$ 300& \text { per unit } \\\hline \text { Direct materials } & \$ 90& \text { per unit } \\\hline \text { Direct labor } & \$ 50& \text { per unit } \\\hline \text { Variable manufacturing overhead } & \$ 40& \text { per unit } \\\hline \text { Fixed manufacturing overhead } & \$ 110,000 &\text { per year } \\\hline \text { Fixed selling and administrative costs } & \$ 150,000 &\text { per year } \\\hline\end{array}$$ There are no beginning inventories.Prepare an income statement using the contribution margin format.

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Definitions:

Keying Errors

Typographical mistakes made during data entry or typing.

Passive Voice

A grammatical voice in which the subject of the sentence is acted upon by the verb, highlighting the action rather than the doer.

Active Voice

A grammatical voice in which the subject of the sentence performs the action expressed by the verb, leading to clearer, more direct sentences.

Business Communicators

Individuals within an organization who are responsible for the exchange of information and messages among colleagues, clients, and the public.