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A manufacturer reports the information below for three recent years. Year 1 $ 116,000 Variable costing income Beginning finished goods inventory (units) Ending finished goods inventory (units) Fixed overhead per unit Variable costing income Fixed overhead in ending inventory Fixed overhead in beginning inventory Absorption costing income Year 1 0 1,500 $ 3.10 Compute income for each of the three years using absorption costing. (Amounts to be deducted should be indicated by a min sign.) Year 2 Year 2 $ 120,400 1,500 1,000 $ 3.10 Year 3 Year 3 $ 124,950 1,000 1,100 $ 3.10

A manufacturer reports the information below for three recent years. Year 1 $ 116,000 Variable costing income Beginning finished goods inventory (units) Ending finished goods inventory (units) Fixed overhead per unit Variable costing income Fixed overhead in ending inventory Fixed overhead in beginning inventory Absorption costing income Year 1 0 1,500 $ 3.10 Compute income for each of the three years using absorption costing. (Amounts to be deducted should be indicated by a min sign.) Year 2 Year 2 $ 120,400 1,500 1,000 $ 3.10 Year 3 Year 3 $ 124,950 1,000 1,100 $ 3.10

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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A manufacturer reports the information below for three recent years. Variable costing income Beginning finished goods inventory (units) Ending finished goods inventory (units) Fixed overhead per unit Variable costing income Fixed overhead in ending inventory Fixed overhead in beginning inventory Absorption costing income Year 1 Year 1 $ 116,000 Year 2 0 1,500 $ 3.10 Compute income for each of the three years using absorption costing. (Amounts to be deducted should be indicated by a minus sign.) Year 2 $ 120,400 1,500 1,000 $ 3.10 Year 3 Year 3 $ 124,950 1,000 1,100 $ 3.10
Transcribed Image Text:A manufacturer reports the information below for three recent years. Variable costing income Beginning finished goods inventory (units) Ending finished goods inventory (units) Fixed overhead per unit Variable costing income Fixed overhead in ending inventory Fixed overhead in beginning inventory Absorption costing income Year 1 Year 1 $ 116,000 Year 2 0 1,500 $ 3.10 Compute income for each of the three years using absorption costing. (Amounts to be deducted should be indicated by a minus sign.) Year 2 $ 120,400 1,500 1,000 $ 3.10 Year 3 Year 3 $ 124,950 1,000 1,100 $ 3.10
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