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Use the variable costing income statement and additional info below for questions 17 & 10 Crystal Corporation Income Statement For the month ended May 31
Use the variable costing income statement and additional info below for questions 17 & 10 Crystal Corporation Income Statement For the month ended May 31 1,560,000 910,000 65.000 Sales ($24 per unit) Variable costs: COGS Selling Total variable costs Contribution margin Fixed expenses: Manufacturing overhead Selling Total fixed expenses Net operating income 975,000 585,000 320,000 201,000 521,000 64.000 Crystal produced 50,000 units in May: beginning inventory consisted of 20,000 units. Production volume, variable product costs per unit, and both fixed costs categories have remained constant over the past several months. Crystal uses FIFO. 17. What would Crystal Corp's net income (net loss) be for the month of May under absorption costing? 18. Compared to variable costing, how much greater would Crystal Corp's inventory value be on May 31s under absorption costing
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