Question
Ramon Company reported the following units of production and sales for June and July: Units Month Produced Sold June 100,000 90,000 July 100,000 105,000 Income
Ramon Company reported the following units of production and sales for June and July:
| Units | ||
| Month | Produced | Sold |
| June | 100,000 | 90,000 |
| July | 100,000 | 105,000 |
Income under absorption costing for June was $40,000; income under variable costing for July was $50,000. Fixed costs were $600,000 for each month. There were no beginning inventories for June.
How much was the income (loss) for June using variable costing?
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Accounting for Governmental and Nonprofit Entities
Authors: Earl R. Wilson, Jacqueline L Reck, Susan C Kattelus
16th Edition
78110939, 978-0078110931
