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Sheridan Company sells its product for $10900 per unit. Variable costs per unit are: manufacturing, $6500; and selling and administrative, $135. Fixed costs are: $50400 manufacturing overhead, and $60400 selling and administrative. There was no beginning inventory at 1/1/20. Production was 36 units per year in 2020-2022. Sales were 36 units in 2020, 32 units in 2021, and 40 units in 2022. Income under variable costing for 2022 is O $54200. $54780. O $48280. O $59800.

Sheridan Company sells its product for $10900 per unit. Variable costs per unit are: manufacturing, $6500; and selling and administrative, $135. Fixed costs are: $50400 manufacturing overhead, and $60400 selling and administrative. There was no beginning inventory at 1/1/20. Production was 36 units per year in 2020-2022. Sales were 36 units in 2020, 32 units in 2021, and 40 units in 2022. Income under variable costing for 2022 is O $54200. $54780. O $48280. O $59800.

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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Sheridan Company sells its product for $10900 per unit. Variable costs per unit are: manufacturing, $6500; and selling and administrative, $135. Fixed costs are: $50400 manufacturing overhead, and $60400 selling and administrative. There was no beginning inventory at 1/1/20. Production was 36 units per year in 2020-2022. Sales were 36 units in 2020, 32 units in 2021, and 40 units in 2022. Income under variable costing for 2022 is O $54200. $54780. O $48280. O $59800.
Transcribed Image Text:Sheridan Company sells its product for $10900 per unit. Variable costs per unit are: manufacturing, $6500; and selling and administrative, $135. Fixed costs are: $50400 manufacturing overhead, and $60400 selling and administrative. There was no beginning inventory at 1/1/20. Production was 36 units per year in 2020-2022. Sales were 36 units in 2020, 32 units in 2021, and 40 units in 2022. Income under variable costing for 2022 is O $54200. $54780. O $48280. O $59800.
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