Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Make Your Own Way, LLC is a manufacturer of hiking boots. During the previous period, $16,500 of direct materials were requisitioned and $15,000 of
Make Your Own Way, LLC is a manufacturer of hiking boots. During the previous period, $16,500 of direct materials were requisitioned and $15,000 of direct labor costs were incurred in the company's manufacturing operations. The company uses actual costing to account for manufacturing overhead. The actual manufacturing overhead costs incurred totaled $4,600. The company's beginning work in process inventory equaled $12,000. By the end of the period, this amount had increased by $2,500. There was a net decrease in finished goods inventory during the period of $570. Give sales revenue of $125,000 and operating expenses of $21,000, what was the company's operating income for the period? A. $70,970 B. $69,830 C. $74,430 D. $90,830 E. $65,970 Time Remaining: 00:53:03 Next
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started