During the most recent year, Osterman Company had the following data:

Units in beginning inventory	---
Units produced	11,350
Units sold ($50 per unit)	9,400
Variable costs per unit:
Direct materials	$10
Direct labor	$5
Variable overhead	$3
Fixed costs:
Fixed overhead per unit produced	$4
Fixed selling and administrative	$138,500

1. Calculate the cost of goods sold under absorption costing.

The cost of goods sold under the absorption costing method is ----------------------

2. Prepare an income statement using absorption costing. Refer to the list of Amount Descriptions for the exact wording of text items within your income statement.

Question not attempted.

Score: 0/51

Osterman Company

Absorption-Costing Income Statement

For the Most Recent Year

1
2
3
4
5