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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 |