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Razor Technologies reported $167,000 of income for the year by using variable costing. The company had no beginning inventory, planned and actual production of 50,000 units, and sales of 48,000 units. Standard variable manufacturing costs were $13 per unit, and total budgeted fixed manufacturing overhead was $100,000. If there were no variances, income under absorption costing would be: Multiple Choice

Razor Technologies reported $167,000 of income for the year by using variable costing. The company had no beginning inventory, planned and actual production of 50,000 units, and sales of 48,000 units. Standard variable manufacturing costs were $13 per unit, and total budgeted fixed manufacturing overhead was $100,000. If there were no variances, income under absorption costing would be: Multiple Choice

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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Razor Technologies reported $167,000 of income for the year by using variable costing. The company had no beginning inventory, planned and actual production of 50,000 units, and sales of 48,000 units. Standard variable manufacturing costs were $13 per unit, and total budgeted fixed manufacturing overhead was $100,000. If there were no variances, income under absorption costing would be: Multiple Choice O $108,000. O $162,000. O $216,000. O $153,000.
Transcribed Image Text:Razor Technologies reported $167,000 of income for the year by using variable costing. The company had no beginning inventory, planned and actual production of 50,000 units, and sales of 48,000 units. Standard variable manufacturing costs were $13 per unit, and total budgeted fixed manufacturing overhead was $100,000. If there were no variances, income under absorption costing would be: Multiple Choice O $108,000. O $162,000. O $216,000. O $153,000.
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