Question

Make an income statement for:

Selling expenses: $156,700
Direct labor: $282,000
Interest expense: $41,800
Manufacturing overhead, actual: $79,000
Raw materials used: $494,000
Administrative expenses: $121,900

Answer 1

To make an income statement for the given expenses, you categorize the expenses into different categories and total them up. The total expenses for the given information is $1,175,400.

Step-by-step explanation:

An income statement is a financial statement that shows a company's revenues, expenses, and profits over a specified period of time. To make an income statement, you need to categorize the expenses into different categories. Based on the given information, the income statement would look like this:

Expense Amount Selling expenses $156,700 Direct labor $282,000 Interest expense $41,800 Manufacturing overhead, actual $79,000 Raw materials used $494,000 Administrative expenses $121,900

To calculate the total expenses, you add up all the amounts: $156,700 + $282,000 + $41,800 + $79,000 + $494,000 + $121,900 = $1,175,400. Therefore, the income statement would show total expenses of $1,175,400.