Fixed manufacturing overhead $144,750 Fixed selling and administrative expense $10,200 What is the net operating income for the month under absorption costing? $6,000 O $38,850 O $17,550 $11,550

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
icon
Related questions
Topic Video
Question
22
Variable manufacturing overhead
$20
Variable selling and administrative expense $ 24
Fixed costs:
Fixed manufacturing overhead
$144,750
Fixed selling and administrative expense $10,200
What is the net operating income for the month under absorption costing?
$6,000
$38,850
O $17,550
O $11,550
Transcribed Image Text:Variable manufacturing overhead $20 Variable selling and administrative expense $ 24 Fixed costs: Fixed manufacturing overhead $144,750 Fixed selling and administrative expense $10,200 What is the net operating income for the month under absorption costing? $6,000 $38,850 O $17,550 O $11,550
Farris Corporation, which has only one product, has provided the following data concerning its most recent month of
operations:
8.000
Selling price
Units in beginning inventory
Units produced
Units sold
$168
O
9,650
9,250
Units in ending inventory 400
Variable costs per unit:
$32
$74
$20
Variable selling and administrative expense $ 24
Fixed costs:
Fixed manufacturing overhead
$144,750
Fixed selling and administrative expense $10,200
mat is the net operating income for the month under absorption costing?
Direct materials
Direct labor
Variable manufacturing overhead
Transcribed Image Text:Farris Corporation, which has only one product, has provided the following data concerning its most recent month of operations: 8.000 Selling price Units in beginning inventory Units produced Units sold $168 O 9,650 9,250 Units in ending inventory 400 Variable costs per unit: $32 $74 $20 Variable selling and administrative expense $ 24 Fixed costs: Fixed manufacturing overhead $144,750 Fixed selling and administrative expense $10,200 mat is the net operating income for the month under absorption costing? Direct materials Direct labor Variable manufacturing overhead
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Performance measurements
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education