Cameron Manufacturing Co.'s static budget at 5,000 units of production includes $40,000 for direct labor and $5,000 for variable electric power. Total fixed costs are $25,000. At 8,000 units of production, a flexible budget would show: Group of answer choices a) variable costs of $64,000 and $25,875 of fixed costs b) variable costs of $64,000 and $25,000 of fixed costs c) variable costs of $72,000 and $25,000 of fixed costs d) variable and fixed costs totaling $112,000.
As of December 31, 2019, Armani Company's financial records show the following items and amounts.
Cash $ 10,000
Accounts receivable 9,000
Supplies 6,000
Equipment 5,000
Accounts payable 11,000
A. Armani, Capital, Dec. 31, 2018 16,000
A. Armani, Capital, Dec. 31, 2019 19,000
A. Armani, Withdrawals 13,000
Consulting revenue 33,000
Rental revenue 22,000
Salaries expense 20,000
Rent expense 12,000
Selling and administrative expenses 8,000
Required:
Prepare the 2019 year-end income statement for Armani Company.
Business
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