prepare an income statement for the year ended december 31 through the gross profit 1560562

Prepare an income statement for the year ended December 31, through the gross profit for Baxter Company using the following information. Baxter Company sold 8,600 units at $125 per unit. Normal production is 9,000 units. (Do not round fixed overhead rate calculation when determining fixed factory overhead volume variance.) Standard: 5 yards per unit at $6.30 per yard Standard: 2.25 hours per unit at $15.00 Standard: variable overhead $1.05 per unit Standard: fixed overhead $211,500 (budgeted and actual amount) Actual yards used: 43,240 yards at $6.25 per yard Actual hours worked: 19,100 at $14.90 per hour Actual total factory overhead: $235,500