Question: Please provide the answer to this general accounting question with proper steps. Phoenix Manufacturing reported $125,000 of income using variable costing for the year. The

Please provide the answer to this general accounting question with proper steps.

Phoenix Manufacturing reported $125,000 of income using variable costing for the year. The company had ne beginning inventory, planned and actual production of 60,000 units, and sales of 55,000 units. Standard variable manufacturing costs were $18 per unit, and total budgeted fixed manufacturing overhead was $180,000. Assuming no variances, calculate the Income under absorption costing. a. $135,000 b. $125,000 c. $142,000 d. $168,000 e. $156,000

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Please provide the answer to this general accounting question with proper steps. Raylan Inc. produces a single product. Last year, 22,000 units were manufactured and 18,500 units were sold. The...

Chapter 4Exercises 5, 8, 12, 17, and18 Problem 12 172 iStockphoto Variable Costing In 2012, the all-tube amplifier p r o d u ce d b y C l a u s e n Tu b e r e ce i ve d rave reviews and the company...

it is managerial accounting , please help me with these question Name: (Please print) 35,multiple choice pomts each for a total point of 100. Select the BEST questions. Questions 1-30 worth 3 Actual...

Please see attachment of questions. Accounting questions are attached. Please use the attached worksheet for answers. Question 1 1. Managerial accounting stresses accounting concepts and procedures...

please help me with these questions . It is managerial accounting Name: (Please print) 35,multiple choice pomts each for a total point of 100. Select the BEST questions. Questions 1-30 worth 3 Actual...

Charan- Bus 3/3 4-5-6 1. Mixed costs are also referred to as semivariable costs. A) True B) False 2. Indirect costs occur when A) costs are directly traced to products or services. B) controllable...

Please help me with those cost accounting questions too as last time. I got 93 out of 100 last time. 1. A company is building a widget. During the current year, a widget requires direct materials...

Mmahajan, As promised, I have some more questions for you. I will also have more next week. Please view the attachment and let me know if you can do the problems. You do not need to use a spreadsheet...

The net present value (NPV) rule is considered one of the most common and preferred criteria that generally lead to good investment decisions. Consider this case: Suppose Green Caterpillar Garden...

When writing a report of suspected child abuse, you should include A . only what you saw and heard. B . signatures of law enforcement officers at the scene. C . conclusions based on observations of...

In Medical Sociology, we see that African-American males tend to live somewhat shorter lives than their male counterparts in various races. Based on researchers, what are some factors that may...