- K M Ot 0 Onces Exercise 7 2 Algo Variable Costing Income Statement Explanation Of Difference In Net Operating Income 1 (35.15 KiB) Viewed 11 times
- K M Ot 0 Onces Exercise 7 2 Algo Variable Costing Income Statement Explanation Of Difference In Net Operating Income 2 (8.36 KiB) Viewed 11 times
- K M Ot 0 Onces Exercise 7 2 Algo Variable Costing Income Statement Explanation Of Difference In Net Operating Income 3 (39.73 KiB) Viewed 11 times
k m ot 0 onces Exercise 7-2 (Algo) Variable Costing Income
Statement; Explanation of Difference in Net Operating Income [LO7-2] Ida
Company produces a handcrafted musical Instrument called a gamelan that is similar to a xylophone. The gamelans are sold for $950. Selected data for the
company's operations last year follow: Units in beginning inventory Units produced Units sold Units in ending inventory Variable costs per unit: Direct materials Direct labor Variable manufacturing overhead Variable selling and administrative Fixed costs: Fixed manufacturing overhead $ 75,000 Fixed selling and administrative $ 15,000 The absorption costing income
statement prepared by the
company's accountant for last year appears below: Sales Cost of goods sold Gross margin Selling and administrative expense Net operating income $ 218,500 187,450 31,050 21,900 $ 9,150 e 250 230 20 Required 1 Required 2 Required: 1. Under absorption costing, how much fixed manufacturing overhead cost is included in the
company's inventory at the end of last year? 2. Prepare an income
statement for last year using variable costing. $125 $335 $ 55 $ 30 Complete this
question by entering your answers in the tabs below. Prepare an income
statement for last year using variable costing.
Required 1 Required 2 Under absorption costing, how much fixed manufacturing overhead cost is included in the
company's inventory at the end of last year?
Required 1 Required 2 Prepare an income
statement for last year using variable costing. Ida
Company Variable Costing Income
Statement < Required 1 Required 2 >