Financial Account Aerotrino produces and sells popular t-shirts. Following is information aboutits t-shirts for 2014:Selling price $15.00 pert-shirtVariable costs:Production (manufacturing costs) - $3.50per t-shirtSelling & administration -$1.00 per t-shirtFixed costs:Production (manufacturing costs) - $1,000,000 per yearSelling & administration - $2,000,000 per yearDuring 2014, the company produced 400,000 t-shirts and sold 350,000 ofthem. Assume that there was no beginning inventory. How much is the netincome under variable costing?

Key InformationSelling price per t-shirt: $15.00.Variable costs:Production: $3.50 per…

Answered: Aerotrino produces and sells popular…

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter11: Differential Analysis And Product Pricing

Section: Chapter Questions

Problem 16E

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