Magamu reported $ 6 0 , 0 0 0 of income for the year by using absorption

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Question:

Magamu reported $

60, 000

of income for the year by using absorption costing. The company had no beginning inventory, planned and actual production of

20, 000

units, and sales of

19, 000

units. Standard variable manufacturing costs were $

22

per unit, and total budgeted fixed manufacturing overhead was $

150, 000 .

If there were no variances, what would be the income under variable costing?

Related Book For answer-question

Accounting for Decision Making and Control

ISBN: 978-0078025747

8th edition

Authors: Jerold Zimmerman

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Posted Date: Apr 09, 2024 05:55 AM

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Magamu reported $ 6 0 , 0 0 0 of income for the year by using absorption

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To determine the income under variable costing we need to calculate the varia... View the full answer

Accounting for Decision Making and Control

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