s no beginning inventory. Other information for the year included: Direct manufacturing labor $228,000 Variable manufacturing overhead 120,000 Direct materials 180,000 Variable selling expenses 144,000 Fixed administrative expenses 96,000 Fixed manufacturing overhead 216,000
s no beginning inventory. Other information for the year included: Direct manufacturing labor $228,000 Variable manufacturing overhead 120,000 Direct materials 180,000 Variable selling expenses 144,000 Fixed administrative expenses 96,000 Fixed manufacturing overhead 216,000
Chapter5: Process Costing
Section: Chapter Questions
Problem 6EB: What are the total costs to account for if a companys beginning inventory had $23,432 in materials...
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Question
For 2019, Kim, Inc., had production of 200,000 units and sales of 160,000 units. Selling price is $6 per unit. There was no beginning inventory. Other information for the year included:
Direct manufacturing labor | $228,000 |
Variable manufacturing overhead | 120,000 |
Direct materials | 180,000 |
Variable selling expenses | 144,000 |
Fixed administrative expenses | 96,000 |
Fixed manufacturing overhead | 216,000 |
Compute net income under absorption costing.
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