Homework Answers
8.
| Income Statement Absorption Costing | |
| Sales ( 4,000 x 500) | 2,000,000 |
| Expenses: | |
| Direct materials ( 4,000 x 150) | -600,000 |
| Direct labor ( 4,000 x 75) | -300,000 |
| Variable manufacturing overhead ( 4,000 x 20) | -80,000 |
| Fixed manufacturing overhead ( 110,000 x 4,000/5,000) | -88,000 |
| Fixed selling and administrative costs | -116,000 |
| Operating Income | $816,000 |
Correct option is d.
9.
| Calculation of Cost of Ending Inventory | |
| Direct materials ( 1,000 x 150) | 150,000 |
| Direct labor ( 1,000 x 75) | 75,000 |
| Variable manufacturing overhead ( 1,000 x 20) | 20,000 |
| Fixed manufacturing overhead ( 110,000 x 1,000/5,000) | 22,000 |
| Cost of ending inventory | $267,000 |
Correct option is b.
Kindly comment if you need further assistance. Thanks‼!
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