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Direct labor $4,400 8,000 2. Lightning Bug, Ltd. manufactures lamps. Data from the month of July follow: Costs Direct materials Other Information: Beginning Inventory
Direct labor $4,400 8,000 2. Lightning Bug, Ltd. manufactures lamps. Data from the month of July follow: Costs Direct materials Other Information: Beginning Inventory Units produced O units 400 Mfg. Overhead Units sold 300 Variable 2,400 Selling Price $ 48 per unit Fixed 1,400 Selling & Admin. 1,200 + $2.50 per unit Required: a. Compute the cost of ending inventory and net income using variable costing. b. Compute the cost of ending inventory and net income using absorption costing.
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Intermediate Accounting
Authors: James D. Stice, Earl K. Stice, Fred Skousen
16th Edition
324376375, 0324375743I, 978-0324376371, 9780324375749, 978-0324312140
