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Category > Management Posted 23 Dec 2017 My Price 5.00

cost structure (assuming the company uses absorption costing)

During the current year, Bailey Inc. manufactured 40,000 units and sold 33,000 units of product. The company produces only one product. The selling price per unit is $40.00, with the following cost structure (assuming the company uses absorption costing):

Direct materials $3.00 per unit
Direct labour $2.50 per unit
Variable manufacturing overhead $0.70 per unit
Fixed manufacturing overhead $70,000.00
Selling commission $1.00 per unit

Which of the following amounts is the net income for the year for Bailey Inc.?
a.$969,000.00
b.$1,024,650.00
c.$1,045,400.00
d.$1,057,650.00

Show calculation!

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CourseLover
(12)
Status NEW Posted 23 Dec 2017 10:12 AM My Price 5.00

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