Question
Income Statements under Absorption and Variable Costing with Decrease in Ending Inventory The following information pertains to Chacon Inc. for last year: Beginning inventory in
Income Statements under Absorption and Variable Costing with Decrease in Ending Inventory
The following information pertains to Chacon Inc. for last year:
| Beginning inventory in units | 5,000 |
| Units produced | 20,000 |
| Units sold | 23,700 |
| Costs per unit: | |
| Direct materials | $11.00 |
| Direct labor | $4.00 |
| Variable overhead | $1.50 |
| Fixed overhead* | $4.15 |
| Variable selling expenses | $3.00 |
| Fixed selling and administrative expenses | $24,300 |
| * Fixed overhead totals $83,000 per year. |
Assume that the selling price is $27 per unit.
Required:
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Auditing Beyond Compliance Using The Portable Universal Quality Lean Audit Model
Authors: Janet Bautista Smith
1st Edition
0873898400, 9780873898409
