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Category > Accounting Posted 27 Apr 2017 My Price 3.00

Calculate income under absorption costing

(Net income; absorption vs. variable costing) Tennessee Tack manufactures horse blankets. In 2010, fixed overhead was applied to products at the rate of

$8 per unit. Variable cost per unit remained constant throughout the year. In July 2010, income under variable costing was $188,000. July’s beginning and ending inventories were 20,000 and 10,400 units, respectively.

a. Calculate income under absorption costing assuming no variances.

b. Assume instead that the company’s July beginning and ending inventories were 9,000 and 12,000 units, respectively. Calculate income under absorption costing.

 

 

Answers

Alpha Geek
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Status NEW Posted 27 Apr 2017 07:04 AM My Price 3.00

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file 1493277244-Answer.docx preview (153 words )
(-----------Net----------- in-----------com-----------e; -----------abs-----------orp-----------tio-----------n v-----------s. -----------var-----------iab-----------le -----------cos-----------tin-----------g) -----------Ten-----------nes-----------see----------- Ta-----------ck -----------man-----------ufa-----------ctu-----------res----------- ho-----------rse----------- bl-----------ank-----------ets-----------. I-----------n 2-----------010-----------, -----------x-----------ed -----------ove-----------rhe-----------ad -----------was----------- ap-----------pli-----------ed -----------to -----------pro-----------duc-----------ts -----------at -----------the----------- ra-----------te -----------of ----------- $8----------- pe-----------r u-----------nit-----------. V-----------ari-----------abl-----------e c-----------ost----------- pe-----------r u-----------nit----------- re-----------mai-----------ned----------- co-----------nst-----------ant----------- th-----------rou-----------gho-----------ut -----------the----------- ye-----------ar.----------- In----------- Ju-----------ly -----------201-----------0, -----------inc-----------ome----------- un-----------der----------- va-----------ria-----------ble----------- co-----------sti-----------ng -----------was----------- $1-----------88,-----------000-----------. J-----------uly-----------’-----------s b-----------egi-----------nni-----------ng -----------and----------- en-----------din-----------g i-----------nve-----------nto-----------rie-----------s w-----------ere----------- 20-----------,00-----------0 a-----------nd -----------10,-----------400----------- un-----------its-----------, r-----------esp-----------ect-----------ive-----------ly.----------- a-----------. C-----------alc-----------ula-----------te -----------inc-----------ome----------- un-----------der----------- ab-----------sor-----------pti-----------on -----------cos-----------tin-----------g a-----------ssu-----------min-----------g
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