Question

Inventory data for a manufacturing firm for the month of January follows. One set of figures is based on variable costing and the other set is based on absorption costing.


REQUIRED
A. Which balance sheets is based on the absorption costing method? Explain.
B. During January, was production equal to, greater than, or less than sales for the month?
Explain.
C. Calculate the dollar difference between variable costing income and absorption costing income forJanuary.


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  • CreatedJanuary 26, 2015
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