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. 80,000 units 48,000 units $ 24 per unit $26 per unit $3 per unit Direct labor Variable overhead Fixed overhead $ 600,000 in total Belle Company's product is sold for $80 per unit. Variable selling and administrative expense is $2 per unit and fixed selling and administrative is $320,000 per year. Compute the net income under absorption costing. Multiple Choice $80,000 $98,000 $296,800

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. 80,000 units 48,000 units $ 24 per unit $26 per unit $3 per unit Direct labor Variable overhead Fixed overhead $ 600,000 in total Belle Company's product is sold for $80 per unit. Variable selling and administrative expense is $2 per unit and fixed selling and administrative is $320,000 per year. Compute the net income under absorption costing. Multiple Choice $80,000 $98,000 $296,800

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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