Please do not give solution in image format thanku 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:InventoriesBeginning (units)Year 1O IncreaseO Decrease200150150190Ending (units)Variable costing net operating income$ 290,000$ 269,000The company's fixed manufacturing overhead per unit was constant at $570 for all three years.2. Assume in Year 4 that the company's variable costing net operating income was $250,000 and its absorption costing net operatingincome was $280,000.a. Did inventories increase or decrease during Year 4?inventory during Year 4< PrevYear 2b. How much fixed manufacturing overhead cost was deferred or released from inventory during Year 4?Fixed manufacturing overhead costwgYear 33of 6190230$ 260,000Next >

The net income is different under variable costing and absorption costing. The absorption costing…

Required information [The following information applies to the questions displayed below.] Jorgansen Lighting, Incorporated, manufactures heavy-duty street lighting systems for municipalities. The compar variable costing for internal management reports and absorption costing for external reports to shareholders, crec and the government. The company has provided the following data: Inventories Beginning (units) Year 1 200 150 $ 290,000 Year 2 150 190 $ 269,000 Year 3 190 230 $ 260,000 Ending (unita) Variable coating net operating income The company's fixed manufacturing overhead per unit was constant at $570 for all three years.

Required information [The following information applies to the questions displayed below.] Jorgansen Lighting, Incorporated, manufactures heavy-duty street lighting systems for municipalities. The compar variable costing for internal management reports and absorption costing for external reports to shareholders, crec and the government. The company has provided the following data: Inventories Beginning (units) Year 1 200 150 $ 290,000 Year 2 150 190 $ 269,000 Year 3 190 230 $ 260,000 Ending (unita) Variable coating net operating income The company's fixed manufacturing overhead per unit was constant at $570 for all three years.

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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