Question
Financial & Managerial Accounting for MBAs Easton, P, Halsey,R. et.al. Module 18 Product Costing Problem Lorraine Corp obtained the following information form its absorption costing
Financial & Managerial Accounting for MBAs Easton, P, Halsey,R. et.al. Module 18 Product Costing
Problem
Lorraine Corp obtained the following information form its absorption costing accounting records:
Operating Income $24,000
Total Product Costs Incurred during the period $16,000
Value of Beginning Work-in-Process and Finished Goods Inventories $0
Value of Ending Work-in-Progress and Finished Goods Inventories $0
Sales $50,000
Compute the total Period Costs incurred for this period.
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Managerial Accounting Tools For Business Decision Making
Authors: Weygandt, Kimmel, Kieso
4th Edition
0470478535, 978-0470478530
