Belle Company reports the following information for the current year. All beginning inventory amounts equaled $0 this
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Question:
Belle Company reports the following information for the current year. All beginning inventory amounts equaled $0 this year.
Units Produced this year | 25,000 |
units sold this year | 15,000 |
Direct Materials | $12 per unit |
Direct Labor | $14 per unit |
Variable overhead | $3 per unit |
Fixed Overhead | $90,000 |
Belle Company's product is sold for $59 per unit. Variable selling and administrative expense is $2 per unit and fixed selling and administrative is $200,000 per year.
Compute the net income under absorption costing.
Related Book For
Intermediate Accounting
ISBN: 978-0324300987
10th Edition
Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones
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