Mason Corporation began operations at the beginning of the current year. One of the companys products, a refrigeration element, sells for $$205$ per unit. Information related to the current years activities follows.

Variable costs per unit:

Direct material $ $20$

Direct labor $37$

Manufacturing overhead $44$

Annual fixed costs:

Manufacturing overhead $ $600,000$

Selling and administrative $860,000$

Production and sales activity:

Production $($units$)24,000$

Sales $($units$)20,000$

Mason carries its finished$-$goods inventory at the average unit cost of production and is subject to a $30$ percent income tax rate. There was no work in process at year$-$end.

$2.$ Compute Masons net income for the current year ended December $31.$

Answer rating: 100% (QA)

To compute Mason Corporations net income for the current year we need to calculate the total revenue ... View the full answer