Intermediate Accounting, 17th Edition
17th Edition
ISBN: 9781119503682
Author: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield
Publisher: WILEY
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How many machine hours were used during the year?
Ridgeline Plastics manufactures high-strength
plastics for aerospace components. In 2021, the
company produced 6,000 tons of plastic but sold
3,800 tons. In 2022, it produced the same amount
but sold 7,500 tons (selling all its inventory). The
selling price per ton was $1,950, variable
manufacturing costs per ton were $450, and variable
selling expenses were $550 per ton. Fixed
manufacturing costs were $4,200,000, and fixed
administrative expenses were $700,000.
Compute net income under variable costing for
2021.
What is the return on assets?
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