vanhoe Company sells its product for $10400 per unit. Variable costs per unit are: manufacturing, $5000; 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 absorption costing for 2022 is $99800. $88280. $93280. $94200.
vanhoe Company sells its product for $10400 per unit. Variable costs per unit are: manufacturing, $5000; 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 absorption costing for 2022 is $99800. $88280. $93280. $94200.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Ivanhoe Company sells its product for $10400 per unit. Variable costs per unit are: manufacturing, $5000; 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 absorption costing for 2022 is
Income under absorption costing for 2022 is
$99800.
$88280.
$93280.
$94200.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education