Question
Costs involved in production are: Direct material $4.00Direct labor 4.00Variable manufacturing overhead 2.00Total variable manufacturing costs per unit $10.00Fixed manufacturing overhead per year $245,250 In
Costs involved in production are:
Direct material
$4.00Direct labor
4.00Variable manufacturing overhead
2.00Total variable manufacturing costs per unit
$10.00Fixed manufacturing overhead per year
$245,250
In addition, the company has fixed selling and administrative costs of $170,800per year.
During the year,Uliproduces54,500snow shovels and sells49,310snow shovels.
What is the value of ending inventory using full costing? 75255.00
What is the value of ending inventory using variable costing?
Value of ending inventory$51,900.00
enter value of ending inventory in dollars
Calculate the difference in full costing net income and variable costing net income without preparing either income statement.
Difference in net income
$23355.00
enter difference in net income in dollars
What is cost of goods sold using full costing?
Cost of goods sold$714995
enter cost of goods sold in dollars
What is cost of goods sold using variable costing?493,100
What is net income using full costing?
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