Required Information[The following information applies to the questions displayed below]Jorgansen Lighting, Incorporated, manufactures heavy-duty street lighting systems for municipalities. The company usesvariable costing for internal management reports and absorption costing for external reports to shareholders, creditors.and the government. The company has provided the following data:Inventories:Beginning (units)Year 1200179$1,080,400Required aComplete this question by entering your answers in the tabs below.Required bYear 2Ending (units)Variable costing net operating incomeThe company's fixed manufacturing overhead per unit was constant at $550 for all three years.Did inventories increase or decrease during Year 47Did inventories increase or decrease during Year 47170188$1.032,4002. Assume in Year 4 that the company's variable costing net operating income was $984,400 and its absorption costing net operatingincome was $1,012,400.Year 3a. Did inventories increase or decrease during Year 4?b. How much fixed manufacturing overhead cost was deferred or released from inventory during Year 4?180220$996,400

Required Information [The following information applies to the questions displayed below] Jorgansen Lighting, Incorporated, manufactures heavy-duty street lighting systems for municipalities. The company uses variable costing for internal management reports and absorption costing for external reports to shareholders, creditors. and the government. The company has provided the following data: Year 1 Inventories: Beginning (units) 170 188 Ending (units) Variable costing net operating income $1,032,400 The company's fixed manufacturing overhead per unit was constant at $560 for all three years. 200 179 $1,080,400 Complete this question by entering your answers in the tabs below. Required a Year 2 2. Assume in Year 4 that the company's variable costing net operating income was $984,400 and its absorption costing net operating income was $1,012,400. Required b Year 3 a. Did inventories increase or decrease during Year 4? b. How much fixed manufacturing overhead cost was deferred or released from inventory during Year 4? Did inventories increase or decrease during Year 47 Did inventories increase or decrease during Year 47 180 220 $996,400

Required Information [The following information applies to the questions displayed below] Jorgansen Lighting, Incorporated, manufactures heavy-duty street lighting systems for municipalities. The company uses variable costing for internal management reports and absorption costing for external reports to shareholders, creditors. and the government. The company has provided the following data: Year 1 Inventories: Beginning (units) 170 188 Ending (units) Variable costing net operating income $1,032,400 The company's fixed manufacturing overhead per unit was constant at $560 for all three years. 200 179 $1,080,400 Complete this question by entering your answers in the tabs below. Required a Year 2 2. Assume in Year 4 that the company's variable costing net operating income was $984,400 and its absorption costing net operating income was $1,012,400. Required b Year 3 a. Did inventories increase or decrease during Year 4? b. How much fixed manufacturing overhead cost was deferred or released from inventory during Year 4? Did inventories increase or decrease during Year 47 Did inventories increase or decrease during Year 47 180 220 $996,400

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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Jorgansen Lighting, Incorporated, manufactures heavy-duty street lighting systems for municipalities. The company uses variable costing for internal management reports and absorption costing for external reports to shareholders, creditors, and the government. The company has provided the following data: Year 1 Year 2 Year 3 Inventories Beginning (units) 220 160 180 Ending (units) 160 180 240 Variable costing net operating income $ 290,000 $ 269,000 $ 250,000 The company’s fixed manufacturing overhead per unit was constant at $560 for all three years. Required: 1. Calculate each year’s absorption costing net operating income. (Enter any losses or deductions as a negative value.)
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