Belle Company reports the following information for the current year. All beginning inventory amounts equaled $0 this year. Units produced this year Units sold this year Direct materials Direct labor 40,000 units 24,000 units $ 16 per unit $ 18 per unit Variable overhead $3 per unit Fixed overhead $ 220,000 in total Belle Company's product is sold for $63 per unit. Variable selling and administrative expense is $2 per unit and fixed selling and administrative is $240,000 per year. Compute the net income under absorption costing. Multiple Choice O O OOO $64,000 $69,200 $165,760 $204,000 $229,200

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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Belle Company reports the following information for the current year. All beginning inventory amounts equaled $0 this year.
Units produced this year
Units sold this year.
40,000 units
24,000 units
$16 per unit
Direct materials
Direct labor
$ 18 per unit
Variable overhead
Fixed overhead
$ 3 per unit
$ 220,000 in total
Belle Company's product is sold for $63 per unit. Variable selling and administrative expense is $2 per unit and fixed selling and administrative is $240,000 per year. Compute the net income under absorption costing.
Multiple Choice
O
O
$64,000
$69,200
$165,760
$204,000
$229,200
Transcribed Image Text:Belle Company reports the following information for the current year. All beginning inventory amounts equaled $0 this year. Units produced this year Units sold this year. 40,000 units 24,000 units $16 per unit Direct materials Direct labor $ 18 per unit Variable overhead Fixed overhead $ 3 per unit $ 220,000 in total Belle Company's product is sold for $63 per unit. Variable selling and administrative expense is $2 per unit and fixed selling and administrative is $240,000 per year. Compute the net income under absorption costing. Multiple Choice O O $64,000 $69,200 $165,760 $204,000 $229,200
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