same question cont uiz Homeyer Corporation has provided the following data for i

Question

same question cont

uiz Homeyer Corporation has provided the following data for its two most recent years of operation Selling price per unit Manufacturing costs: 71 Variable manufacturing cost per unit produced: Direct materials $ 12 . Direct labor Variable manufacturing overhead Fixed manufacturing overhead per year $264,000 Selling and administrative expenses: Variable selling and administrative expense per unit sold Fixed selling and administrative expense per year 74,860 Units in beginning inventory Units produced during the year Units sold during the year Units in ending inventory 0 3,000 11,000 12,000 8,000 14,808 3,000 1,00 The net operating income (loss) under absorption costing in Year 1·s Multiple Choice $176.0

Explanation / Answer

Unit product cost Direct Materials 12 Direct labor 6 Variable manufacturing overhead 3 Fixed manufacturing overhead (264,000/11000) 24 Unit product cost 45 income under absorption costing (Year 1) sales (71*8,000) 568000 less : cost of goods sold (45*8,000) 360000 Gross Profit 208000 less:Selling expense variable selling & adm expense(8000*4) 32000 fixed selling & adm expense 74,000 106000 Net income 102000 Answer      $ 102,000

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