Need help with this accounting question Kluber, Inc. had a net income of $906,000based on variable costing. Beginning andending inventories were 55,600 units and53,200 units, respectively. Assume the fixedoverhead per unit was $1.55 for both thebeginning and ending inventory.What is net income under absorptioncosting?

Step 1:Under variable costing method product cost is calculated by using variable manufacturing cost…

Answered: Kluber, Inc. had a net income of…

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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Ming Company had a net income of $780,200 based on variable costing. Beginning and ending inventories were 8,600 units and 6,000 units, respectively. Assume the fixed overhead per unit was $3.80 for both the beginning and ending inventory. What is net income under absorption costing?
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Kluber, Inc. had net income of $918,000 based on variable costing. Beginning and ending inventories were 56,800 units and 55,600 units, respectively. Assume the fixed overhead per unit was $2.15 for both the beginning and ending inventory. What is net income under absorption costing?
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X Corp produces single product. Income under variable costing and absorption costing are 36,400 and 25,600, respectively. Product cost per unit under Variable costing and absorption costing are 18 and 20 per unit, respectively. Ending inventory is 2,600 units, what is the beginning inventory in units?A. 5,400B. 2,800C. 8,000D. 13,400
Zeta Inc. had net income of $918,000 based on variable costing. Beginning and ending inventories were 56,800 units and 55,600 units, respectively. Assume the fixed overhead per unit was $2.15 for both the beginning and ending inventory. What is net income under absorption costing? A.$797,170 B.$912,840 C.$1,038,830 D.$915,420 E.$918,000
Circetrax, Inc. has provided the following financial information for the year: Finished Goods Inventory: Beginning balance, in units Units produced Units sold Ending balance, in units Production costs: Variable manufacturing costs per unit Total fixed manufacturing costs What is the unit product cost for the year using absorption costing? OA. $117 630 1,400 1,500 530 $50 $42,000 W
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The beginning inventory is 16,100 units. All of the units that were manufactured during the period and 16,100 units of the beginning inventory were sold. The beginning inventory fixed manufacturing costs are $41 per unit, and variable manufacturing costs are $96 per unit. a. Determine whether variable costing operating income is less than or greater than absorption costing operating income. b. Determine the difference in variable costing and absorption costing operating income.

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Kluber, Inc. had a net income of $906,000 based on variable costing. Beginning and ending inventories were 55,600 units and 53,200 units, respectively. Assume the fixed overhead per unit was $1.55 for both the beginning and ending inventory. What is net income under absorption costing?