Rhea Corp. sells its product for $6,600 per unit. Variable costs per unit are: manufacturing, $3,600, and
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Question:
Rhea Corp. sells its product for $6,600 per unit. Variable costs per unit are: manufacturing, $3,600, and selling and administrative, $75. Fixed costs are: $18,000 manufacturing overhead, and $24,000 selling and administrative. There was no beginning inventory at 1/1/15. Production was 20 units per year in 2015–2017. Sales were 20 units in 2015, 16 units in 2016, and 24 units in 2017.
Required:
21. Income under absorption costing for 2016
22. Income under absorption costing for 2017
23. Income under variable costing for 2016
24. Income under variable costing for 2017
Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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