Easton Pump Company's planned production for the year Just ended was 18,100 units. This production level was achieved, and 20,600 units were sold. Other data follow: Direct material used Direct labor incurred Fixed manufacturing overhead variable manufacturing overhead Fixed selling and administrative expenses variable selling and administrative expenses Finished-goods inventory, January 1 $553,860 273,310 376,480 191,860 316,750 84,165 3,200 units The cost per unit remained the same in the current year as in the previous year. There were no work-in-process Inventories at the beginning or end of the year. Required: 1. What would be Easton Pump Company's finished-goods Inventory cost on December 31 under the variable-costing method? (Do not round Intermediate calculations.) 1. Finished-goods inventory cost 2-a. Higher operating income method 2-b. Difference in reported income 2-a. Which costing method, absorption or variable costing, would show a higher operating income for the year? 2-b. By what amount? (Do not round Intermediate calculations.)

Easton Pump Company's planned production for the year Just ended was 18,100 units. This production level was achieved, and 20,600 units were sold. Other data follow: Direct material used Direct labor incurred Fixed manufacturing overhead variable manufacturing overhead Fixed selling and administrative expenses variable selling and administrative expenses Finished-goods inventory, January 1 $553,860 273,310 376,480 191,860 316,750 84,165 3,200 units The cost per unit remained the same in the current year as in the previous year. There were no work-in-process Inventories at the beginning or end of the year. Required: 1. What would be Easton Pump Company's finished-goods Inventory cost on December 31 under the variable-costing method? (Do not round Intermediate calculations.) 1. Finished-goods inventory cost 2-a. Higher operating income method 2-b. Difference in reported income 2-a. Which costing method, absorption or variable costing, would show a higher operating income for the year? 2-b. By what amount? (Do not round Intermediate calculations.)

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Description: Please do not give solution in image format thanku Easton Pump Company's planned production for the year Just ended was 18,100 units. This production level was achieved, and 20,600units were sold. Other data follow:Direct material used.Direct labor i

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter5: Process Costing

Section: Chapter Questions

Problem 2PB: The following product costs are available for Kellee Company on the production of eyeglass frames:...

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