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THE WACO AIRCRAFT COMPANY STATEMENT OF PROFIT AND LOSS FOR SIX MONTHS ENDED JUNE 30, 1936 [[4 column table]] | | AIRPLANES | PARTS | TOTAL | | --- | --- | --- | --- | | SALES | 628 883 81 | 49 482 93 | 678 366 74 | | Less: Distributors Discounts | 145 828 63 | 6 739 26 | 152 567 89 | | NET SALES | 483 055 18 | 42 743 67 | 525 798 85 | | COST OF GOODS SOLD | 437 108 15 | 32 641 89 | 469 750 04 | | GROSS MARGIN | 45 947 03 | 10 101 78 | 56 048 81 | | OPERATING EXPENSE | | | | | Administrative Expense | | 19 440 71 | | | Selling Expense | | 49 722 17 | | | Engineering Expense | | 55 286 52 | 124 449 40 | | NET LOSS FROM OPERATIONS | | | 68 400 59 | | OTHER INCOME | | | | | Interest Earned | 561 75 | | | | Discount Taken | 1 754 69 | | | | Commission Received | 529 91 | | | | Profit on disposal of Capital Assets | 15 00 | | | | Scrap Sales | 877 61 | | | | Miscellaneous Income | 1 319 39 | | 5 058 35 | | NET LOSS FOR SIX MONTHS ENDED JUNE 30, 1936 | | | 63 342 24 | | FACTORY VARIANCES | | | | | Overabsorbed Burden | | 24 327 62 | | | Material Variance | | 2 480 68 | | | Labor Variance | | 1 290 84 | | | Burden Variance | | 11 023 53 | | | Manufacturing Variance | | 7 811 42 | 31 311 25 | | NET LOSS AFTER FACTORY VARIANCES | | | 32 030 99 |