What is the value of the ending inventory using the absorption costing method?
43.Refer to Mayberry Corporation. What is the relationship between absorption costing net income and variable costing net income?
a.Absorption costing net income is $150,000 less.
b.Absorption costing net income is $150,000 greater.
c.Absorption costing net income is $240,000 less.
d.Absorption costing net income is $240,000 greater.
44.Refer to Mayberry Corporation. What is the value of the ending inventory using the variable costing method?
Eastwood Company has the following information for 2011:
Selling price$150 per unit
Variable production costs$40 per unit produced
Variable selling and administrative expenses$16 per unit sold
Fixed production costs$200,000
Fixed selling and administrative expenses$140,000
Units produced10,000 units
Units sold8,000 units
Eastwood had no beginning inventories.
45.Refer to Eastwood Company. What is the ending inventory for Eastwood using the absorption costing method?
46.Refer to Eastwood Company. What is the cost of ending inventory for Eastwood using the variable costing method?
47.Refer to Eastwood Company. What is the net income for Eastwood using the absorption costing method?
48.Refer to Eastwood Company. What is the net income for Eastwood using the variable costing method?
Toshi Company incurred the following costs in manufacturing desk calculators:
Indirect materials (variable)4
Indirect labour (variable)6
Other variable factory overhead10
Fixed factory overhead28
Variable selling expenses20
Fixed selling expenses14
During the period, the company produced and sold 1,000 units.
49.Refer to Toshi Company. What is the inventory cost per unit using absorption costing?
50.Refer to Toshi Company. What is the inventory cost per unit using variable costing?
Ramon Company reported the following units of production and sales for June and July:
Net income under absorption costing for June was $40,000; net income under variable costing for July was $50,000. Fixed manufacturing costs were $600,000 for each month.
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