he following information is available for Barnes Company for the fiscal year ended December 31: Beginning finished goods inventory in units 0 Units produced 4,800 Units sold 4,000 Sales $ 400,000 Materials cost $ 96,000 Variable conversion cost used $ 48,000 Fixed manufacturing cost $ 72,000 Indirect operating costs (fixed) $ 80,000 The absorption costing operating income is: $112,000 $120,000 $140,000 $128,000
he following information is available for Barnes Company for the fiscal year ended December 31: Beginning finished goods inventory in units 0 Units produced 4,800 Units sold 4,000 Sales $ 400,000 Materials cost $ 96,000 Variable conversion cost used $ 48,000 Fixed manufacturing cost $ 72,000 Indirect operating costs (fixed) $ 80,000 The absorption costing operating income is: $112,000 $120,000 $140,000 $128,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
he following information is available for Barnes Company for the fiscal year ended December 31:
The absorption costing operating income is:
| Beginning finished goods inventory in units | 0 | ||
| Units produced | 4,800 | ||
| Units sold | 4,000 | ||
| Sales | $ | 400,000 | |
| Materials cost | $ | 96,000 | |
| Variable conversion cost used | $ | 48,000 | |
| Fixed |
$ | 72,000 | |
| Indirect operating costs (fixed) | $ | 80,000 |
|
$112,000
|
||
|
$120,000
|
||
|
$140,000
|
||
|
$128,000
|
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