180

Before the end of August, Jobs 70, 72, 73, and 75 were completed. On August 31, Jobs 72 and 75 were sold.

Cairle’s selling and administrative expenses for August were $1,100. Assume that Cairle prices its jobs at cost plus 20 percent.


Required:


Compose an

income statement for Cairle Company for August.


Cairle Company


Income Statement


For the Month of August


Sales $


COG sold $


Gross margin $


Selling and Admin Exp


Operating income

$