Haley's Hurdle Company produce and sell hurdles to athletic teams and players. Variable costing net operating income las...
Haley's Hurdle Company produce and sell hurdles to athletic teams and players. Variable costing net operating income last year was $86,000 and this year was $103,100. Last year, $32,000 in fixed manufacturing overhead costs were released from inventory under absorption costing. This year, $12,000 in fixed manufacturing overhead costs were deferred in inventory under absorption costing.
What was the absorption costing net operating income last year?
Multiple Choice
-
$54,000
-
$86,000
-
$91,100
-
$118,000
Homework Answers
ANSWER:
OPTION: $54000
The main difference between absorption costing and variable costing is the treatment of fixed manufacturing overhead.
under absorption costing all the manufacturing overhead - fixed and variable are absorbed by the units produced.
but under the variable costing fixed manufacturing overhead is not included at all.
therefore,
absorption costing net operating income = variable costing net operating income - fixed manufacturing overhead costs released
= $86000 - $32000
= $54000
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