Question
For the year ended December 31, 20x5, Myles Corporation has the following records of its costs: Direct materials used 503497 Direct labour 199735 Variable manufacturing
| For the year ended December 31, 20x5, Myles Corporation has the following records of its costs: | |||
| Direct materials used | 503497 | ||
| Direct labour | 199735 | ||
| Variable manufacturing overhead | 130399 | ||
| Fixed manufacturing overhead | 126963 | ||
| Selling and administrative costs (fixed) | 107170 | ||
| Myles produced 125637 units and sold 106376 units at $12 in 20x6. There were no beginning inventories. If Myles uses absorption costing, what is the operating income for the year ended December 31, 20x6? |
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College Accounting Chapters 1-15
Authors: James A Heintz, Robert W Parry
19th Edition
0324376162, 978-0324376166
