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Required information [The following information applies to the questions displayed below.) Advanced Company reports the following information for the current year. All beginning inventory amounts
Required information [The following information applies to the questions displayed below.) Advanced Company reports the following information for the current year. All beginning inventory amounts equaled $0 this year. Units produced this year Units sold this year Direct materials Direct labor Variable overhead Fixed overhead 45,000 units 27,000 units $ 29 per unit $ 31 per unit $ 3 per unit $225,000 in total Given Advanced Company's data, compute cost per unit of finished goods under variable costing. Multiple Choice $61.88 $68.00 Required information [The following information applies to the questions displayed below.] Advanced Company reports the following information for the current year. All beginning inventory amounts equaled $0 this year. Units produced this year Units sold this year Direct materials Direct labor Variable overhead Fixed overhead 45,000 units 27,000 units $ 29 per unit $ 31 per unit $ 3 per unit $225,000 in total Given Advanced Company's data, compute cost of finished goods in inventory under absorption costing. Multiple Choice 0 $1,836,000 $1,134,000 Jeter Corporation had net income of $227,000 based on variable costing. Beginning and ending inventories were 7,500 units and 13,000 units, respectively. Assume the fixed overhead per unit was $6 for both the beginning and ending inventory. What is net income under absorption costing? Multiple Choice $293,000 O $260,000 $350,000 O $227,000
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