Subject - accountPlease help me. Thankyou. A business operated at 100% of capacity during its first month, with the following results:Sales (95 units)Production costs (100 units):Direct materialsDirect laborVariable factory overheadFixed factory overheadOperating expenses:Variable operating expensesFixed operating expenses$25,000$28,500$16,000$40,000$19,50020,0003,0007.000$ 8,0001,000What is the amount of the gross profit that would be reported on the absorption costing income statement?$95,00070,0009,000

Absorption costing, on the other hand, considers all costs of manufacturing as product costs…

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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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What is the amount of the gross profit that would be reported on the absorption costing income statement? $25,000 $28,500 $16,000 $19,500