Please provide ans in TXT form 7Assume the following information for a company that produced 10,000 units and sold 8,000 units during its first year of operations and produced 8,000units and sold 10,000 units during its second year of operations:252:26Per Unit$ 200$ 78$ 50Per YearSelling priceDirect materialsDirect laborVariable manufacturing overheadSales commissionFixed selling and administrative expense:$ 110,000$ 300,000Fixed manufacturing overheadUsing absorption costing, what is the net operating income for the second year of operations?$11$8

Formula Cost of goods sold= Beginning inventory + Manufacturing Cost — Ending Inventory

7 Assume the following information for a company that produced 10,000 units and sold 8,000 units during its first year of operations and produced 8,000 units and sold 10,000 units during its second year of operations: 252.26 Selling price Direct materials Direct labor Per Unit $ 200 $ 78 $ 50 $11 $8 Per Year Variable manufacturing overhead Sales commission Fixed selling and administrative expense. $ 110,000 $ 300,000 Fixed manufacturing overhead Using absorption costing, what is the net operating income for the second year of operations?

7 Assume the following information for a company that produced 10,000 units and sold 8,000 units during its first year of operations and produced 8,000 units and sold 10,000 units during its second year of operations: 252.26 Selling price Direct materials Direct labor Per Unit $ 200 $ 78 $ 50 $11 $8 Per Year Variable manufacturing overhead Sales commission Fixed selling and administrative expense. $ 110,000 $ 300,000 Fixed manufacturing overhead Using absorption costing, what is the net operating income for the second year of operations?

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter6: Activity-based, Variable, And Absorption Costing

Section: Chapter Questions

Problem 14EB: Crafts 4 All has these costs associated with production of 12,000 units of accessory products:...

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