During Heaton Company's first two years of operations, the company reported operating profit as follows (absorption costing basis)
Year
Year 2
Revenge 25
C1000 000 C1250000
Less cost of goods sold
Beginning inventory
90.000
Add cost of goods manufactured (1)
810.000
810.000
Goods available for sale
10.000
900.000
Less ending inventory to 18)
90.000
Cost of goods sold
720.000 500.000
Gross margin
280.000
350 000
Loss selling and administrative expenses 210 000 230000
Operating profit
6.70000
120 000
O
2
including £130,000 of fixed selling and administrative expenses
The companys £18 unit product cost is computed as follows:
Direct mat
Doctor
Variable manufacturing overhead
.
manufacturing overhead 270.000/45.000 unit)
Un productos
C
Production and cost data for the two years are:
Yeart Year 2
Un produced 45.000 45.000
Un sold 40.000 50.000
Required
1- Prepare a statement of profit or loss for each year in the contribution format using
variable costing

two years ago, when picking flowers in the mountains back of yosemite valley, i found a book. it was blotted and storm-beaten; all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however; many of the inner pages were well preserved. and although all were more or less stained and torn, whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today; its granite pages have been torn and blurred by the same storms that wasted the castaway book.

two years ago, when picking flowers in the mountains back of yosemite valley; i found a book. it was blotted and storm-beaten, all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however, many of the inner pages were well preserved. and although all were more or less stained and torn; whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today, its granite pages have been torn and blurred by the same storms that wasted the castaway book.

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