Question 9 (Mandatory) (1.5 points) Saved A business operated at 100% of capacity during its first month, with the following results: $90,000 Sales (90 units) Production costs (100 units): Direct materials Direct labor Variable factory overhead Fixed factory overhead Operating expenses: Variable operating expenses Fixed operating expenses $40,000 20,000 2,000 5,000 67,000 $ 8,000 1,000 9,000 What is the amount of the income from operations that would be reported on the absorption costing income statement? $21,000 $28,000 $20,700 $22,000 Question 10 (Mandatory) (1.5 points) A business operated at 100% of capacity during its first month, with the following results: $90,000 Sales (90 units) Production costs (100 units): Direct materials Direct labor Variable factory overhead Fixed factory overhead Operating expenses: Variable operating expenses Fixed operating expenses $40,000 20,000 2,000 5,000 67,000 $ 8,000 1,000 9,000 What is the amount of the contribution margin that would be reported on the variable costing income statement? $23,000 $28,000 $20,000 $26,200 Question 7 (Mandatory) (1.5 points) Saved Under absorption costing, which of the following costs would not be included in finished goods inventory? Hourly wages of assembly worker Straight-line depreciation on factory equipment Overtime wages paid factory workers Advertising costs for a furniture manufacturer