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Question 1 consists of all parts (A-G). In order to fully answer this question, please complete parts A-G. Thank you. On March 31, Brass Company's
Question 1 consists of all parts (A-G). In order to fully answer this question, please complete parts A-G. Thank you.
On March 31, Brass Company's absorption costing accounting system contained the following information. Assume per unit costs for February were the same as the March per unit costs. Units sold Sales Price Total Cost of Goods Manufactured Total Selling & Admin. Expenses Units in Ending Inventory Units in Beginning Inventory Fixed Manufacturing Costs Fixed Selling & Admin. Expenses 45,000 $72.00 $1,200,000 $100,000 5,000 2,000 $192,000 $60,000 Required: A) Determine the March Ending Inventory balance using Absorption Costing. (Show your work) B) Determine the March Beginning Inventory balance using Absorption Costing. (Show your work) C) Determine the March Ending Inventory balance using Variable Costing. (Show your work) D) Determine the March Beginning Inventory balance using Variable Costing. (Show your work) E) Prepare an Absorption Costing Income Statement down to the Operating Income level. F) Prepare a Variable Costing Income Statement down to the Operating Income level. G) Show how the difference in operating incomes in (E) and (F) occurred. In other words, show me how you would reconcile the differenceStep by Step Solution
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