Oxiclear manufactures a tile and grout cleaner. The company was formed during the current year. As...

  

Transcribed Image Text:

Oxiclear manufactures a tile and grout cleaner. The company was formed during the current year. As a result, there was no beginning inventory. Management is evaluating performance and inventory management issues, and desires to know both net income and ending inventory under generally accepted accounting principles (absorption costing) as well as variable costing methods. Relevant facts are as follows: Selling price per gallon variable manufacturing cost per gallon Variable SG&A costs per gallon Fixed manufacturing costs Fixed SG&A Total gallons produced Total gallons sold S 4.40 0.80 0.90 1,450,000 235,000 650,000 620,000 Oxiclear manufactures a tile and grout cleaner. The company was formed during the current year. As a result, there was no beginning inventory. Management is evaluating performance and inventory management issues, and desires to know both net income and ending inventory under generally accepted accounting principles (absorption costing) as well as variable costing methods. Relevant facts are as follows: Selling price per gallon variable manufacturing cost per gallon Variable SG&A costs per gallon Fixed manufacturing costs Fixed SG&A Total gallons produced Total gallons sold S 4.40 0.80 0.90 1,450,000 235,000 650,000 620,000

Answer rating: 100% (QA)

To answer the questions we need to calculate various values based on the provided data Given data Selling price per gallon S 440 Variable manufacturing cost per gallon 080 Variable SGA costs per gallo... View the full answer