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Calculation when determining fixed factory

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Prepare an income statement for the year ended December 31, through the gross profit for Baxter Company using the following information. Baxter Company sold 8,600 units at $125 per unit. Normal production is 9,000 units. (Don't round fixed overhead rate calculation when determining fixed factory overhead volume variance.) Standard: 5 yards per unit at $6.30 per yard Standard: 2.25 hours per unit at $15.00 Standard: variable overhead $1.05 per unit Standard: fixed overhead $211,500 (budgeted and actual amount) Actual yards used: 43,240 yards at $6.25 per yard Actual hours worked: 19,100 at $14.90 per hour Actual total factory overhead: $235,500

Reference no: EM131044762

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