AA 06-3 Global Analysis LO P3 Review Samsung's income statement in Appendix A for the year ending December, 31 2017, and identify its net income for 2017. Required: 1. Review Samsung's balance sheet data in Appendix A as of December 31, 2017, and December 31, 2016. What amounts in W millions) does Samsung report for inventory at each of these balance sheet dates? 2. Assume Samsung uses absorption costing for financial reporting and its fixed overhead costs equal 10% of the total reported inventory cost at each of these two balance sheet dates. Compute Samsung's 2017 net income under variable costing. Hint: Refer to Exhibit 19.11. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Review Samsung's balance sheet data in Appendix A as of December 31, 2017, and December 31, 2016. What amounts (in millions) does Samsung report for inventory at each of these balance sheet dates? W millions December 31, 2017 December 31, 2016 W millions AA 06-3 Global Analysis LO P3 Review Samsung's income statement in Appendix A for the year ending December, 31 2017, and identify its net income for 2017. Required: 1. Review Samsung's balance sheet data in Appendix A as of December 31, 2017, and December 31, 2016. What amounts (in W millions) does Samsung report for inventory at each of these balance sheet dates? 2. Assume Samsung uses absorption costing for financial reporting and its fixed overhead costs equal 10% of the total reported inventory cost at each of these two balance sheet dates. Compute Samsung's 2017 net income under variable costing. Hint: Refer to Exhibit 19.11. Complete this question by entering your answers in the tabs below. Required 1 Required 2 ***** **************** ****************** Assume Samsung uses absorption costing for financial reporting and its fixed overhead costs equal 10% of the total reporte inventory cost at each of these two balance sheet dates. Compute Samsung's net income under variable costing. Hint: Refe to Exhibit 19.11. (Round your answer to one decimal place.) .................................................................................: Variable costing income A AA 06-3 Global Analysis LO P3 Review Samsung's income statement in Appendix A for the year ending December, 31 2017, and identify its net income for 2017. Required: 1. Review Samsung's balance sheet data in Appendix A as of December 31, 2017, and December 31, 2016. What amounts (in W millions) does Samsung report for inventory at each of these balance sheet dates? 2. Assume Samsung uses absorption costing for financial reporting and its fixed overhead costs equal 10% of the total reported inventory cost at each of these two balance sheet dates. Compute Samsung's 2017 net income under variable costing. Hint: Refer to Exhibit 19.11. Complete this question by entering your answers in the tabs below. Required 1 Required 2 ***** **************** ****************** Assume Samsung uses absorption costing for financial reporting and its fixed overhead costs equal 10% of the total reporte inventory cost at each of these two balance sheet dates. Compute Samsung's net income under variable costing. Hint: Refe to Exhibit 19.11. (Round your answer to one decimal place.) .................................................................................: Variable costing income A
