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Make an income statement for presentation to management

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Reference no: EM132766364

Problem - The following data were taken from the records of Griggs Company for December:

Administrative expenses $100,800

Cost of goods sold (at standard) 550,000

Direct materials price variance-unfavorable 1,680

Direct materials quantity variance-favorable (560)

Direct labor rate variance-favorable (1,120)

Direct labor time variance-unfavorable 490

Variable factory overhead controllable variance-favorable (210)

Fixed factory overhead volume variance-unfavorable 3,080

Interest expense 2,940

Sales 868,000

Selling expenses 125,000

Required - Make an income statement for presentation to management.

Reference no: EM132766364

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