E26-2 Wyco Company manufactures toasters. For the first 8…
E26-2 Wyco Company manufactures toasters. For the first 8 months of 2011, the company reported the following operating results while operating at 75% of plant capacity. Sales (400,000 units) $4,000,000 Cost of goods sold 2,400,000 Gross profit 1,600,000 Operating expenses 900,000 Net income $ 700,000 Cost of goods sold was 70% variable and 30% ...
