Concord Corporation sells its product for $7100 per unit. Variable costs per unit are: manufacturing, $4200, and selling and administrative, $100. Fixed costs are: $18000 manufacturing overhead, and $24000 selling and administrative. There was no beginning inventory at 1/1/18. Production was 20 units per year in 2018–2020. Sales were 20 units in 2018, 16 units in 2019, and 24 units in 2020. Income under absorption costing for 2019 is $10200. $11200. $5425. $6400.
Concord Corporation sells its product for $7100 per unit. Variable costs per unit are: manufacturing, $4200, and selling and administrative, $100. Fixed costs are: $18000 manufacturing overhead, and $24000 selling and administrative. There was no beginning inventory at 1/1/18. Production was 20 units per year in 2018–2020. Sales were 20 units in 2018, 16 units in 2019, and 24 units in 2020. Income under absorption costing for 2019 is $10200. $11200. $5425. $6400.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Concord Corporation sells its product for $7100 per unit. Variable costs per unit are: manufacturing, $4200, and selling and administrative, $100. Fixed costs are: $18000 manufacturing overhead, and $24000 selling and administrative. There was no beginning inventory at 1/1/18. Production was 20 units per year in 2018–2020. Sales were 20 units in 2018, 16 units in 2019, and 24 units in 2020. Income under absorption costing for 2019 is
$10200.
$11200.
$5425.
$6400.
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