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Hardy Co's unit production cost under variable costing is $21, and $28 under absorption costing. Net income under variable costing was $245,000 and $187,600 under absorption costing last year. Production equalled 67,000 units. How many units did Hardy sell? A. 75,200 B. 58,800 C. 74,000 D. 60,000

Hardy Co's unit production cost under variable costing is $21, and $28 under absorption costing. Net income under variable costing was $245,000 and $187,600 under absorption costing last year. Production equalled 67,000 units. How many units did Hardy sell? A. 75,200 B. 58,800 C. 74,000 D. 60,000

FINANCIAL ACCOUNTING
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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Hardy Co's unit production cost under variable costing is $21, and $28 under absorption costing. Net income under variable costing was $245,000 and $187,600 under absorption costing last year. Production equalled 67,000 units. How many units did Hardy sell? A. 75,200 B. 58,800 C. 74,000 D. 60,000
Transcribed Image Text:Hardy Co's unit production cost under variable costing is $21, and $28 under absorption costing. Net income under variable costing was $245,000 and $187,600 under absorption costing last year. Production equalled 67,000 units. How many units did Hardy sell? A. 75,200 B. 58,800 C. 74,000 D. 60,000
Turner, Inc. budgeted 10,000 widgets for production during 2016. Turner has capacity to produce 15,000 units. The sale price of the widgets is $80 per unit. Fixed factory overhead is allocated using direct labour hours. The following estimated costs were provided: Direct material $ 80,000 Direct labour Variable manufacturing overhead Fixed factory overhead costs Total 600,000 50,000 20,000 $750,000 During the year 8,000 units were produced, and 7,000 units was sold.
Transcribed Image Text:Turner, Inc. budgeted 10,000 widgets for production during 2016. Turner has capacity to produce 15,000 units. The sale price of the widgets is $80 per unit. Fixed factory overhead is allocated using direct labour hours. The following estimated costs were provided: Direct material $ 80,000 Direct labour Variable manufacturing overhead Fixed factory overhead costs Total 600,000 50,000 20,000 $750,000 During the year 8,000 units were produced, and 7,000 units was sold.
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