During the most recent year, Bennett Company had the following data: Required 1. Calculate the cost of
Question:
Required
1. Calculate the cost of goods sold under absorption costing.
2. Prepare an income statement using absorption costing.
Transcribed Image Text:
Units in beginning inventory Units produced Units sold ($70 per unit) 8,000 7,500 Variable costs per unit: Direct materials $20 Direct labour $14 Variable overhead $3 Fixed costs: Fixed overhead per unit produced Fixed selling and administrative S5 S142,000
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Related Book For
Cornerstones of Managerial Accounting
ISBN: 978-0176530884
2nd Canadian edition
Authors: Maryanne M. Mowen, Don Hanson, Dan L. Heitger, David McConomy, Jeffrey Pittman
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