Understanding absorption and variable costing data Following are selected data of the Howthorne Company. Beginning inventory. Ending
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Understanding absorption and variable costing data Following are selected data of the Howthorne Company.
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Beginning inventory. Ending inventory Normal capacity.. Units 12,000 Prime Cost $25/unit Applied Overhead $15/unit ($6 variable) 8,000 40,000 $28/unit $18/unit ($7 variable) Underapplied fixed overhead is $33,000. REQUIRED a. Determine the total amount of fixed overhead during the current year. b. Determine the difference in net income between absorption and variable costing for the year. c. Determine the number of units produced during the period. d. Determine the number of units sold during the period. e. Determine the cost of ending inventory using variable costing.
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