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 Variable overhead Fixed overhead 55,000 units 33,000 units $ 19 per unit $ 21 per unit $ 3 per unit $ 343,750 in total Belle Company's product is sold for $71 per unit. Variable selling and administrative expense is $2 per unit and fixed selling and administrative is $270,000 per year. Compute the net income under absorption costing.

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 Variable overhead Fixed overhead 55,000 units 33,000 units $ 19 per unit $ 21 per unit $ 3 per unit $ 343,750 in total Belle Company's product is sold for $71 per unit. Variable selling and administrative expense is $2 per unit and fixed selling and administrative is $270,000 per year. Compute the net income under absorption costing.

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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