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?
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?
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?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1edf9c30-c8a8-4e98-8383-e3d5a92d570b%2F4578c083-074c-4855-8688-cd1145d6462b%2Fr10ndyl_processed.jpeg&w=3840&q=75)
Transcribed Image Text: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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