Variable and absorption costing-service company jensen's tailoring provides custom tailoring services. after the company's first year of operations, its owner prepared the following summarized data report for 2016
sales (500 completed jobs)$150,000
tailoring costs (550 jobs)
direct labor70,500
manufacturing overhead
variable18,000
fixed13,500
operating expenses
variable8,400
fixed8,700

required:
prepare an income statement based on full absorption costing

Costco wholesale corporation operates membership warehouses selling food, appliances, consumer electronics, apparel and other household goods at 471 locations across the u. s. as well as in canada, mexico and puerto rico. as of its fiscal year-end 2005, costco had approximately 21.2 million members. selected fiscal-year information from the company's balance sheets follows. ($ millions). selected balance sheet data 2005 2004 merchandise inventories $4,015 $3,644 deferred membership income (liability) 501 454 (a) during fiscal 2005, costco collected $1,120 cash for membership fees. use the financial statement effectstemplate to record the cash collected for membership fees. (b) in 2005, costco recorded $46,347 million in merchandise costs (that is, cost of goods sold). record thistransaction in the financial statement effects template. (c) determine the value of merchandise that costco purchased during fiscal-year 2005. use the financial statementeffects template to record these merchandise purchases. assume all of costco's purchases are on credit.