! 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: Inventories Year 1 210 168 $ 300,000 Year 2 Beginning (units) Ending (units) Variable costing net operating income The company's fixed manufacturing overhead per unit was constant at $560 for all three years. Variable costing net operating income Add (deduct) fixed manufacturing overhead deferred in (released from) inventory under absorption costing Absorption costing net operating income 160 190 $ 279.000 Reconciliation of Variable Costing and Absorption Costing Net Operating Incomes Year 1 Year 2 Year 3 Required: 1. Calculate each year's absorption costing net operating Income. (Enter any losses or deductions as a negative value.) Year 3 190 240 $ 250,000

! 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: Inventories Year 1 210 168 $ 300,000 Year 2 Beginning (units) Ending (units) Variable costing net operating income The company's fixed manufacturing overhead per unit was constant at $560 for all three years. Variable costing net operating income Add (deduct) fixed manufacturing overhead deferred in (released from) inventory under absorption costing Absorption costing net operating income 160 190 $ 279.000 Reconciliation of Variable Costing and Absorption Costing Net Operating Incomes Year 1 Year 2 Year 3 Required: 1. Calculate each year's absorption costing net operating Income. (Enter any losses or deductions as a negative value.) Year 3 190 240 $ 250,000

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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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: Inventories Year 1 Year 2 Variable costing net operating income Add (deduct) fixed manufacturing overhead deferred in (released from) inventory under absorption costing Absorption costing net operating income Beginning (units) 210 150 Ending (units) Variable costing net operating income $ 290,000 The company's fixed manufacturing overhead per unit was constant at $560 for all three years. 150 200 $ 269,000 Year 31 200 240 $ 260,000 Required: 1. Calculate each year's absorption costing net operating income. (Enter any losses or deductions as a negative value.) Reconciliation of Variable Costing and…
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Saved Required information [The following information applies to the questions displayed below.] Jorgansen Lighting, Inc., 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) Ending (units) Variable costing net operating income 200 160 180 160 180 230 $300,000 $269,000 $260,000 The company's fixed manufacturing overhead per unit was constant at $560 for all three years. Required: 1. Calculate each year's absorpthon costing net operating income. (Enter any losses or deductions as a negative value.) Reconciliation of Variable Costing and Absorption Costing Net Operating Incomes Year 1 Year 2 Year 3 Variable costing net operating income Add (deduct) fixed manufacturing overhead deferred in (released from) inventory under…
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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. The company provided the following data: Year 1 Year 2 200 160 $ 290,000 Inventories Beginning (units) Ending (units) Variable costing net operating income The company's fixed manufacturing overhead per unit was constant at $560 for all three years. Year 3 160 180 $ 269,000 180 220 $ 250,000 2. Assume in Year 4 the company's variable costing net operating income was $240,000 and its absorption costing net operating income was $300,000. 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?
[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 Year 2 Year 3 Inventories Beginning (units) 210 160 180 Ending (units ) 160 180 230 Variable costing net operating income $300,000 $ 279,000 $ 260,000 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. Note: Enter any losses or deductions as a negative value.
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