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I need help with 14-17 (24 points) PATTY, INC. open a small manufacturing firm on danuary 1, 20X. Sales and Cost data for PATTY, INC.
I need help with 14-17
(24 points) PATTY, INC. open a small manufacturing firm on danuary 1, 20X. Sales and Cost data for PATTY, INC. during the first two months of 20X1-are given below January February Selling Price (per unit). $10 $10 Fixed Costs (to tal). .25 25 Variable Costs (per unit). 2 4 Number of units produced. 25 25 Number of units sold. 21 28 Required (BE CERTAIN YOU PLACE THE ANSWER IN THE CORRECT SPACE ON THE SEPARATE ANSWER SHEET): Using the FIFO inventory method Absorption Costing Variable (Direct) Costing PATTY'S' income for January is.. .10. /47 11. 3 148 PATTY'S income for February is.. .12 13. 5 Using the LIFO inventory method Absorption Costing Variable (Direct) Costing PATTY'S income for January is.. .14 15 PATTY's income for February is. 17 .16Step by Step Solution
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