Pepper Industries uses a standard cost accounting system. During March, 2016, the company reported the following manufacturing variances:
In addition, 15,000 units of product were sold at $18 per unit. Each unit sold had a standard cost of $14. Selling and administrative expenses for the month were $15,000.
Instructions
Prepare an income statement for management for the month ending March 31, 2016.

Question

Pepper Industries uses a standard cost accounting system. During March, 2016, the company reported the following manufacturing variances:  
In addition, 15,000 units of product were sold at $18 per unit. Each unit sold had a standard cost of $14. Selling and administrative expenses for the month were $15,000.
Instructions
Prepare an income statement for management for the month ending March 31, 2016.

Quizplus · Accepted Answer

The Answer of Pepper Industries uses a standard cost accounting system. During March, 2016, the company reported the following manufacturing variances:  
In addition, 15,000 units of product were sold at $18 per unit. Each unit sold had a standard cost of $14. Selling and administrative expenses for the month were $15,000.
Instructions
Prepare an income statement for management for the month ending March 31, 2016.

Pepper Industries Uses a Standard Cost Accounting System